Moderna shares closed down 17.57% at $202.63 on Oct. 22 after early disclosure of personalized cancer vaccine trial data, BlockBeats reported. The stock touched $180.80 intraday, about 26.45% below the prior close, after the company had surged 177% on Aug. 19 when positive trial results were reported.
Trial results remained positive
The data did not signal a trial failure. In the INTerpath-001 phase 3 study, intismeran combined with Keytruda reduced the risk of recurrence or death by 42% and the risk of distant metastasis or death by 38% versus Keytruda alone in a specified postoperative melanoma population. Overall survival data remain immature and the study is continuing.
Analysts described a sell-the-news move
Analysts cited by BlockBeats viewed the decline as a sell-the-news reaction after the stock’s earlier run-up.