Will This News Send Moderna's Stock Soaring?
A big challenge with Moderna (NASDAQ: MRNA) right now is that many investors see it as a COVID-19 stock and not much else. The company is developing more types of COVID vaccines, and its revenue for the foreseeable future will come primarily from Spikevax. Although the COVID vaccine has been a huge success story for Moderna, for forward-looking investors, the business remains full of question marks and uncertainty.
Last week, the company released news that has the potential to alleviate some of those concerns, and as a result, a wave of bullishness helped to rally the stock.
On Oct. 12, Moderna announced that drugmaker Merck (NYSE: MRK) exercised an option to develop a personalized cancer vaccine (PCV) with its business. The two companies have been collaborating on PCVs going back to 2016. A PCV, as the name suggests, is a personalized approach to treating cancer that takes into account an individual patient's immune system to help trigger a tailored response to a tumor.
Source Fool.com
