Tempus AI shares surged more than 20% on Wednesday.
The rally followed news that a personalized mRNA cancer vaccine from Merck and Moderna succeeded in a Phase 3 trial. The study demonstrated a statistically significant improvement in recurrence-free survival. This marks the first successful late-stage trial for such a therapy.
The results directly benefit Tempus due to its pending $1.5 billion acquisition of Personalis Inc. The Merck-Moderna vaccine platform relies on genomic sequencing technology provided by Personalis. These trial results reversed prior investor skepticism regarding the acquisition price and strategic value.