The Economic Times

Moderna stock crashes 25%, loses about $24 billion after cancer vaccine data leak

Modernas stock price dropped over 25% after trial results for its personalized melanoma vaccine with Merck were disclosed. The decline erased approximately $24 billion from Modernas market value, ending a significant rally this year. Analysts noted that this reaction was expected as investors often sell after news becomes public. Despite the drop, the trial results showed promising reductions in cancer recurrence when paired with Merck's Keytruda.