Moderna shares fell as much as 25% on Thursday following the leak of partial data on its personalized cancer vaccine, developed with Merck. The full results, released later that day, nevertheless exceeded Wall Street expectations. Combined with Merck’s Keytruda immunotherapy, the intismeran autogene vaccine reduced the risk of recurrence or death by 42% in certain melanoma patients. The vaccine also reduced the risk of cancer spreading to distant parts of the body or death by 38% compared with Keytruda alone, with detailed phase 3 trial results set to be presented at the European Society for Medical Oncology conference this weekend.
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