Moderna (NASDAQ:MRNA) stock surged by more than 7% on Tuesday after Jefferies analysts offered positive comments on new data from a trial combining Moderna's experimental vaccine with Merck's Keytruda for treating head and neck cancer.
The findings were presented at a recent industry conference, drawing attention to the potential of Moderna's individualized neoantigen therapy platform. Analysts described the cancer vaccine data as "interesting," emphasizing its ability to validate the INT platform further and suggesting its applicability beyond melanoma.
“MRNA is rapidly starting pivotal studies w 3 ongoing now (see below) + could pot'l start one in HNSCC given today's data suggests a ~25mos OS tail vs Keytruda alone of ~8-9mos,” analysts said.
The combination therapy's promising results have sparked optimism about its effectiveness in various cancer indications, potentially broadening the scope of Moderna's vaccine applications.
Meanwhile, Pfizer 's (NYSE:PFE) recent announcement about the success of its Respiratory Syncytial Virus (RSV) vaccine in not just older populations but also in young adults has spurred the company to seek broader U.S. approval.
Moderna is in the race too, with its own RSV vaccine awaiting a regulatory decision expected by May 12. Piper Sandler's analyst, Edward A. Tenthoff, expressed confidence in the FDA's approval of Moderna's RSV vaccine by the stipulated date.
Jefferies has a Buy rating and a price target of $125 on Moderna stock.