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Moderna shares jump, after the news on cancer vaccine trial

Shares of Moderna surged more than 12% on Wednesday!

That due to the news that the biotech company announced it would soon develop and sell a personalized cancer vaccine with Merck.

The stock was the biggest gainer on the S&P 500 around midday, while shares of Merck were little changed.

Tweet on Moderna & Merck announcement vaccine trial


Tweet on Moderna & Merck announcement

Vials of coronavirus disease (COVID-19) vaccines of Pfizer-BioNTech and Moderna are seen during a trial run of a mass vaccination center.

Merck will pay Moderna $250 million for the joint development and commercialization of the vaccine, the announcement said. The companies said they would share costs and profits equally from the collaboration.

  • Moderna and Merck first announced a strategic collaboration regarding mRNA-based personalized cancer vaccines in 2016.

Earlier this year

Shares of Moderna plummeted as Covid-19 vaccine-makers led a turbulent market decline, pushing the stock to its lowest level in nearly a year after disappointing study results and a slew of sales from the firm’s top executives added to concerns that have made one of last year’s top-performing stocks crash more than 70%.