Moderna and Merck announced positive five-year follow-up data for their personalized mRNA cancer vaccine combined with Keytruda, showing it maintained a 49% risk reduction in melanoma recurrence. This news coincided with Moderna's strategic pivot to redirect resources away from late-stage U.S. vaccine development and focus instead on oncology and rare disease therapies.
- Analysts estimate the cancer vaccine has potential peak sales in the multi-billion-dollar range, with pricing estimated around $200,000.
- The strategic shift reflects Moderna's transformation away from its COVID-dependent business, which saw revenue collapse from $19.3 billion in 2022 to $1.9 billion in 2025.
- MRNA closed at $48.71, dropping 6.09% on January 23, 2026, following an initial surge earlier in the week, but remains up 73% year-to-date.