Zacks Investment Ideas feature highlights: Moderna and Merck's

For Immediate Release

Chicago, IL – August 20, 2026 – Today, Zacks Investment Ideas features Moderna MRNA  and Merck’s MRK

From Covid to Cancer: Moderna Scores Melanoma Breakthrough

Wednesday, Moderna exploded, soaring more than 100% after the company released positive topline results from its pivotal Phase 3 INTerpath-001 trial. In the study, Moderna’s individualized mRNA neoantigen therapy was combined with its partner Merck’s Keytruda. 

When the two experimental drugs were combined, the Phase 3 study showed that the regimen significantly extended the time without the melanoma returning and significantly decreased the risk of the cancer spreading to other parts of the body. Melanoma is one of the deadliest forms of cancer and over 1.5 million Americans currently live with it.

Moderna Makes History

Moderna became prominent during the COVID-19 pandemic as one of the earliest vaccines approved. However, after a 20x move during the COVID-19 pandemic, shares have largely been left for dead, falling from a peak of $497 to $22.

That said, Moderna is back on Wall Street’s radar as it becomes the first biotech company with a successful Phase 3 trial for a personalized, tumor-targeted MRNA cancer vaccine. Moderna’s melanoma drug uses its unique mRNA technology to sequence and target up to 34 patient-specific neoantigen , training T-cells to attack recurring tumor cells.

Wall Street Applauds Moderna

Following Wednesday’s news, several Wall Street analysts upgraded Moderna. For instance, William Blair analyst Myles Minter noted that the positive readout provides Moderna with a clear line of sight to revenue diversification beyond its legacy COVID-19 vaccine franchise.

Why are Moderna Shares Up So Much?

Moderna shares exploded for a few reasons. First, the early Phase 3 news was completely unexpected. Second, the drug diversifies Moderna’s one-dimensional portfolio nearly overnight. Third, before Wednesday, nearly 50 million shares, or 14.1% of the stock’s float were sold short. In other words, Moderna bears were forced to cover their shorts, adding fuel to the fire.

Extreme Demand

At the time of this writing, Moderna shares are up 130% as volume tracks 6,000% above the 50-day average – a sign of extreme demand.

Bottom Line

Moderna’s breakthrough marks a pivotal turning point for both oncology and the biotech industry at large. By successfully applying individualized mRNA technology to train the immune system against recurring tumor cells, Moderna and Merck have opened an extraordinary new frontier in targeted cancer treatment.

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