Moderna stock crashes 25%, loses about $24 billion after cancer vaccine data leak
Moderna’s stock price dropped over 25% after trial results for its personalized melanoma vaccine with Merck were disclosed. The decline erased approximately $24 billion from Moderna’s market value, ending a significant rally this year. Analysts noted that this reaction was expected as investors often sell after news becomes public. Despite the drop, the trial results showed...
Key Takeaways
- Moderna’s stock price dropped over 25% after trial results for its personalized melanoma vaccine with Merck were disclosed.
- The decline erased approximately $24 billion from Moderna’s market value, ending a significant rally this year.
- Analysts noted that this reaction was expected as investors often sell after news becomes public.
Moderna’s stock price dropped over 25% after trial results for its personalized melanoma vaccine with Merck were disclosed. The decline erased approximately $24 billion from Moderna’s market value, ending a significant rally this year. Analysts noted that this reaction was expected as investors often sell after news becomes public. Despite the drop, the trial results showed promising reductions in cancer recurrence when paired with Merck's Keytruda.
Original Publisher Attribution
This summary was curated from Economic Times.