Why did Moderna stock drop today? mRNA cancer therapy data
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Moderna (NASDAQ:MRNA) closedÂ down more than 8%Â Monday despite releasing with Merck (MRK) what appeared to be promising data on a combination therapy involving the former's mRNA-4157 (V940) for melanoma.
Moderna's (MRNA) personalized cancer shot in combination with Merck's monoclonal antibody Keytruda (pembrolizumab) led to a reduction in the risk of recurrence or death by 44% compared to Keytruda alone.
However, Grade 3 or worse adverse events were higher in the combination arm compared to the Keytruda arm -- 25% vs. 18%.
Read why Seeking Alpha contributor Douglas McKenny issued a buy recommendation for Moderna (MRNA).