Why Moderna Stock Is Bolting Higher Today
Moderna (NASDAQ: MRNA), a messenger RNA (mRNA) vaccine and drug specialist, is having a strong showing Wednesday morning. In early morning action, the biotech's shares jumped by as much as 16% on heavy volume.
Moderna's shares have cooled off a bit since this red-hot start. But the biotech's stock was still up by a noteworthy 9% as of 10:52 a.m. ET Wednesday morning.
What's sparking Moderna's breakout today? Ahead of the opening bell, Moderna and Merck (NYSE: MRK) announced that they have agreed on a deal to jointly develop the mRNA cancer vaccine known as mRNA-4157 in combination with the anti-PD-1 inhibitor Keytruda as a personalized treatment for high-risk melanoma (a type of skin cancer).
Source Fool.com
