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# Moderna is up almost 600% this year on cancer data nobody has seen in full
- URL: https://www.sharespective.com/stories/moderna-almost-600-year-cancer-data-2026-10-06/
- Published: 2026-10-05T21:15:00.000Z
- Updated: 2026-10-19T19:28:55.000Z
- Description: Moderna rose 6.95% to US$203.21 on Monday. Through Friday's close the shares were up 594% for the year.
- Author: Shaun Botha
- Tags: Biotech, #story, #group-health, Moderna, Merck

Moderna rose 6.95% to US$203.21 on Monday. Through Friday's close the shares were up 594% for the year.

**The bet is on a cancer vaccine.** Intismeran is a personalised vaccine, developed with Merck and given alongside Merck's immunotherapy drug Keytruda. In August the two said a Phase 3 melanoma trial had met its main goal.

Patients on the combination went longer without the cancer returning than patients on Keytruda alone. Nobody outside the companies has seen by how much.

[![Chart: Moderna's value runs far ahead of its sales. Two scales: revenue (left, US$bn) fell from 19.3 in 2022 to 1.9 in 2025; market value (right, US$bn) went from 11.5 at end-2025 to 81.1 on 5 October.](https://storage.ghost.io/c/02/71/0271df32-cec6-421f-9f13-b06ab90e54c1/content/images/2026/10/chart-moderna-scales-revenue-fell-2026-10-06-wide-light.jpg)](https://www.sharespective.com/chart-moderna-scales-revenue-fell-2026-10-06/) 

This story’s chart of the day: the numbers, the dark version and the animated version are on its own page. [The chart’s page →](https://www.sharespective.com/chart-moderna-scales-revenue-fell-2026-10-06/)

The full results arrive at the ESMO cancer congress in Madrid on Saturday 24 October, in the Presidential Symposium, the meeting's top slot. Sydney's Georgina Long presents them at 3.30am Sunday in Auckland and 1.30am in Sydney.

There is a second buyer before then. Moderna joins the Nasdaq-100 on Friday 9 October, replacing Warner Bros. Discovery, which is being absorbed by Paramount Skydance. Funds that track the index have to buy the shares whatever the data says.

Our view 

the share price already assumes a big benefit. On 24 October we'll see how wide the gap between the two groups of patients really is, and a narrow one would leave a lot of this year's gain looking early.

[ This story ran in Bids and Ballots Tuesday 6 October’s edition, with the market snapshot, the other two stories, the numbers and the week ahead. Read the whole edition → ](https://www.sharespective.com/sharespective-2026-10-06/)