Moderna’s stock rallies 7.9% after announcing positive data in trial of melanoma treatment combined with Merck’s Keytruda

Moderna Inc.’s stock
MRNA,
+0.72%
soared 7% early Thursday, after the biotech and partner Merck
MRK,
+2.65%
announced positive data from a mid-stage trial of Moderna’s mRNA-4157 in combination with Merck’s blockbuster cancer drug Keytruda in patients with resected high-risk melanoma (stage III/IV). The companies said after about three years, the combination reduced the risk of recurrence or death by 49% and the risk of distant metastasis or death by 62%, compared with Keytrua alone. “These data add another positive analysis to the multiple endpoints and subgroups previously assessed in this investigate,” said Dr. Kyle Holen, senior VP and head of development, therapeutics and oncology at Moderna. The companies have already started Phase 3 trials of mRNA-4157 in combination with Keytruda. Moderna’s stock has fallen 56% in the year to date, while the S&P 500
SPX,
+1.37%
has gained 22.6%.