Moderna Stock Doubles on Cancer Breakthrough: Here’s What It Means

In brief Moderna (MRNA) jumped ~131% Wednesday after the Phase 3 INTerpath-001 trial of intismeran autogene plus Keytruda hit its RFS and DMFS endpoints in resected melanoma. Intismeran autogene is a personalized mRNA neoantigen therapy built from each patient's tumor mutations, paired with Merck's Keytruda immunotherapy.

Traders shorting Moderna faced ~$4.8B in mark-to-market losses as the stock doubled; short interest sat at 13.5% of free float. Moderna's personalized mRNA cancer shot cleared its first Phase 3 readout, and the market reacted like it had won more than a trial. Shares of Moderna, which trades as MRNA, surged about 131% on Wednesday, more than doubling to near $148 after touching $163 intraday, a record one-day jump.

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