Moderna Inc MRNA Shares are trading higher on Wednesday after the company made the announcement Merck & Company Inc MRK has exercised its option to jointly develop and commercialize a personalized cancer vaccine (PCV).
The PCV, mRNA-4157/V940, will be co-developed and co-commercialized by the two companies under the terms of their existing collaboration and license agreement. mRNA-4157/V940 is currently being investigated in combination with KEYTRUDA, Merck’s anti-PD-1 therapy, as an adjuvant treatment for patients with high-risk melanoma.
“We have been collaborating with Merck on PCV since 2016 and together we have made significant progress advancing mRNA-4157 as a personalized investigational drug for the treatment of cancer in combination with KEYTRUDA,” he said Stefan HoegePresident of Moderna.
“With data on PCV expected this quarter, we remain excited about the future and the impact mRNA may have as a new treatment paradigm in cancer care.”
Merck will pay Moderna $250 million in the third quarter to exercise its personalized cancer vaccine option. As part of the collaboration, Moderna and Merck will share costs and any profits equally.
MRNA Price Action: Moderna has a 52-week high of $249.42 and a 52-week low of $115.03.
The stock was up 8.74% on Wednesday morning at $131.28 Gasoline Pro.
Photo: Marco Verch by Flickr.
