Moderna shares surge 179% on positive phase 3 melanoma therapy trial results

Published Aug 23, 06:23 AM UTC

Moderna Inc. (NASDAQ:MRNA) saw its share price surge up to 179% during the week of August 22, 2026, reaching a record high of $176.66, after reporting positive late-stage clinical trial results for its melanoma therapy candidate intismeran autogene, developed in partnership with Merck. The mRNA-based individualized neoantigen therapy, combined with Merck's Keytruda, met primary endpoints of recurrence-free survival and distant metastasis-free survival in patients with completely resected stage IIB-IV cutaneous melanoma. This marks the first positive phase 3 readout for an individualized neoantigen therapy and an mRNA-based cancer therapy. The combined therapy has a large addressable market, with 112,000 new melanoma cases expected in the US by year-end. Hedge funds have increased their positions in Moderna, with 52 funds holding $1.4 billion in the stock, up 49.6% from the previous quarter.