Moderna stock jumps on positive data for cancer vaccine

Shares of Moderna (MRNA) are moving up on Tuesday afternoon after the company released positive data for its individualized cancer vaccine tested in combination with Merck's Keytruda (MRK). The vaccine aims to train patients' immune systems to recognize and attack specific mutations in cancer cells.

Yahoo Finance Anchors Josh Lipton and Julie Hyman break down Moderna's recent trial data.

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Editor's note: This article was written by Nicholas Jacobino

Video transcript

JOSH LIPTON: Taking a look at shares of Moderna here. The stock rising after an early study shows positive data on its individualized cancer vaccine. So this one was interesting, Julie. In the green, today's trade.

Team at Jefferies highlighting new data from a combination trial of its experimental vaccine, I guess, with Merck's Keytruda in patients with head and neck cancer. At this industry conference, analyst Michael Yee, well-known guy, says the new cancer vaccine data is interesting. In his words, says the data suggests the vaccine could potentially work in industries outside of melanoma. He has a buy rating, price target is $125.

JULIE HYMAN: Yeah, he says one of the possibilities now is that Moderna would file for accelerated approval for treatment of this particular type of melanoma. There's still another study that's going to be going on. They're enrolling people in a trial right now. But he seems pretty optimistic on it.

I thought it was interesting the team over at Bloomberg Intelligence, you and I spotted this note from Sam Fazeli over there, saying that the excitement over this is actually overdone. That the trial that's being referenced here was quite a small trial and a brief one so he didn't see it as positive a read through. But the market is liking it although in the context of some big declines.

JOSH LIPTON: Yeah, I mean the stock not good, basically flat this year, down about 30% in the past 12 months now.

JULIE HYMAN: Right, exactly.