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Moderna’s Growth in Stock Value
Moderna’s stock witnessed a significant growth of over 6% on Tuesday, closing at $111.60. This surge came after the company released positive results pertaining to an experimental, personalized cancer vaccine. The trial results were announced at the American Association for Cancer Research Annual Meeting on Monday, where it was suggested that the vaccine could potentially be utilized in the treatment of various types of cancers.
Details of the Trial
The trial involved 22 patients who were administered Moderna’s mRNA-4157 vaccine along with Merck’s immunotherapy drug Keytruda. Not only was the combination deemed to be safe, but researchers also observed evidence of activated immune responses in the patients. The mRNA-4157 vaccine is specifically tailored to each individual by analyzing the patient’s genes and tumor to identify up to 34 mutations that could aid in combating the cancer. These mutations are then utilized to load a molecule of mRNA with instructions on how the patient’s immune system can effectively target the tumor.
In a previous study conducted in December, the mRNA-4157 vaccine, when administered in conjunction with Keytruda, was found to reduce the risk of recurrence or death by 49% in an ongoing phase 2 trial involving patients with melanoma, compared to those who solely received Keytruda.
Moderna’s Strategy Moving Forward
Moderna, recognized predominantly for its mRNA COVID-19 vaccines, is diversifying its product portfolio as demand for its flagship product has subsided. The company disclosed that by reducing the production of COVID-19 vaccines, it was able to achieve profitability in the last quarter while simultaneously expanding its market presence. During the fall of 2023 COVID season, Moderna gained a 48% market share in the U.S., marking a notable increase from 37% in 2022.
Modern is anticipating that its respiratory franchise, inclusive of the COVID-19 vaccine and an upcoming RSV vaccine, will generate approximately $4 billion in revenue this year. Additionally, the company is looking forward to securing FDA approval for its RSV vaccine in the first half of 2024. Moreover, Moderna has plans to introduce a combined COVID and flu vaccine in the near future. The company’s robust product pipeline consists of 45 products under development, including a vaccine aimed at addressing the norovirus, a digestive system ailment.
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