Wolfe Research upgraded Moderna from Underperform to Peer Perform. The rating change follows a successful Phase 3 trial for intismeran, a personalized cancer vaccine for high-risk melanoma.
Moderna developed the mRNA-based therapy in partnership with Merck. The treatment is used in combination with Merck’s drug, Keytruda.
The trial met its primary and secondary endpoints. The combination therapy showed statistically significant improvements in recurrence-free survival compared to Keytruda alone. It also demonstrated clinically meaningful gains in distant metastasis-free survival.
The upgrade reflects increased confidence in the drug's path to regulatory approval. Success in this trial suggests broader potential for Moderna’s oncology pipeline.