Moderna Stock Plunges 25%—Wiping Out $18 Billion After Historic Cancer Vaccine Breakthrough
The pullback erased much of Wednesday’s 177% surge as traders waited for full trial data and a broader read-through to other cancers.
- Moderna shares dropped 20% on Thursday, reversing part of Wednesday's historic 177% rally after a volatile two-day trading session.
- The volatility followed Wednesday's announcement that Moderna and Merck's personalized mRNA cancer vaccine, intismeran autogene, hit its primary endpoint in the Phase 3 INTerpath-001 trial.
- JPMorgan analyst Jessica Fye noted "success in adj melanoma as priced in with the stock sitting at ~$25bn market cap prior to the news," explaining the reversal.
- Broader biotech markets also reacted, as BioNTech shares fell 4% and the Biotechnology ETF dropped 2%, while Merck shares slipped only 1%.
- Complete trial data due at the ESMO conference in Madrid from October 23 to 27 will determine whether the melanoma win extends to other tumor types.
22 Articles
22 Articles
Moderna Sinks 18% After 177% Cancer Vaccine Rally, BioNTech Falls 4%, Merck Slips
Shares of Moderna (NASDAQ:MRNA) stock are down 18% to $142.70 in Thursday midday trading, unwinding a meaningful piece of Wednesday’s historic 177% rally. The reversal follows a Phase 3 win for Moderna’s personalized cancer vaccine, a result that repriced Moderna stock so violently in one session that a retrace looked close to inevitable. BioNTech (NASDAQ:BNTX) ... Moderna Sinks 18% After 177% Cancer Vaccine Rally, BioNTech Falls 4%, Merck Slips
Moderna Stock Wipes Out $14 Billion as MRNAon Crashes 30% From Record
Moderna shares plunged one day after their historic 177% rally, erasing approximately $14.2 billion from the biotechnology company’s market value as investors reassessed the valuation created by its cancer-treatment breakthrough. MRNA traded near $138.89 at 10:31 a.m.Visit Website
According to Moderna's price jump, these four pharma and biotech shares could be particularly strongly moved by important study data.
The Moderna share increased by 177 percent on Wednesday. The reason is the breakthrough in an active ingredient. How often are such price jumps in just one day? And is this justified?
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