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via finance.yahoo.comBusiness & Companies

Moderna stock crashes as leaked melanoma vaccine data threatens its record rally

FROM THE WIRE · FINANCE.YAHOO.COM

Two months ago, Moderna's (MRNA) melanoma vaccine handed the stock its best day ever. Now leaked results from the same trial have it challenging its worst. It's on track for its biggest drop on record. A close below $187.92 would top its 23.55% drop on Aug. 20, which came the…

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MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bearishThe drop wipes over $23 billion of market value and can weigh on the biotech sector and on partner Merck.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Data from the late-stage trial circulated ahead of the official debut.
  2. 02Merck, Moderna's partner on the vaccine, confirmed the results came out early.
  3. 03The leaked numbers are still good, with a reported 42% cut in the risk of recurrence or death.
  4. 04The full data is set for release Saturday at Europe's biggest cancer conference in Madrid.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Moderna, Inc.MRNAStock202.63 USDMarket closedtoday -17.57%Negative Merck & Co., Inc.MRKStock147.24 USDMarket closedtoday -1.76%Negative State Street SPDR S&P Biotech ETFXBIETF151.70 USDMarket closedtoday -0.71%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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