Moderna rallies past $100 billion valuation ahead of quarterly results
MRNA•MRNA•MRNA•MRNA•Moderna shares rose 10.2%, adding roughly $8 billion in market value from the previous close and lifting its market capitalization above $100 billion. The company is scheduled to report third-quarter results on Friday.
Moderna shares rose 10.2%, adding roughly $8 billion in market value from the previous close and taking its market capitalization above $100 billion. The stock was about 1% below its record intraday high touched last month and had risen more than eight-fold this year.
Late-stage data released last month showed that Moderna’s intismeran, developed with Merck alongside Merck’s Keytruda, cut the risk of melanoma death or recurrence by 42% and the risk of cancer spreading by 38%, compared with Keytruda alone. Investors are expected to focus on vaccine partnership payments and updates on the cancer vaccine in Friday’s results.
