Moderna Surges 10% on Positive Melanoma Trial Results for Cancer Vaccine

Moderna shares rose about 10% after Phase 2 data showed its cancer vaccine, when combined with Keytruda, reduced relapse or death risk in melanoma, signaling potential for its oncology pipeline as Covid-era vaccine sales fade and cash stockpiles dwindle. Evercore ISI called the asset a key value driver, while the stock remains rated a Hold by analysts with notable downside risk baked into targets.