BullseyeGains
Oct 24, 9:50 PM
Moderna's melanoma vaccine hit its Phase 3 goal, cutting the risk of recurrence or death by 42% on top of Keytruda, and the stock still sold off hard. Here's what the headline hides: in Merck's own data the benefit doesn't separate until after the first six months, and BMO pointed out that Keytruda given before surgery produced a comparable result in earlier trials. So the competitor isn't another vaccine, it's the same drug used earlier. The market had priced something bigger, and the real question is lung, kidney and bladder cancer, where Moderna is studying the same approach.
$MRNA and partner
$MRK carry the data while
$BNTX,
$PFE and
$NVAX watch the vaccine group's answer. In a field this early, does a cancer vaccine have to beat the standard of care, or the standard of care played smarter?
