Moderna ( MRNA ) stock jumped 9% Friday after The New York Times reported new details about an effort to speed development of a cancer vaccine. Investors notably viewed the mRNA biotech company as a beneficiary.
Other pharmaceutical stocks, including Pfizer (PFE), BioNTech (BNTX), and Merck (MRK), also rose.
219.23 +22.23 (+11.28%)
At 1:19:39 p.m. EDT. Open market.
According to the New York Times, the new initiative is a public-private partnership – similar to the effort that produced COVID-19 vaccines – that involves the National Institutes of Health (NIH), the nonprofit arm of the NIH, researchers, pharmaceutical and biotechnology companies, advocacy groups, other nonprofit organizations and patients.
Stacey Adam, a senior clinical officer at the NIH Foundation, told the New York Times that she expects the program to launch in December. In 2024, the UK launched a similar program, called the Cancer Vaccine Launch Pad.
Moderna is considered a leader in mRNA-based cancer treatments. The stock rose in August thanks to positive results from a treatment against melanoma, developed with Merck.
Year to date, Moderna stock is up 627%.
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