Moderna CEO Highlights Promising Cancer Vaccine Data: ‘Think About The Number Of Lives That Can Be Impact – Benzinga

December 14, 2023 4:03 PM | 2 min read

Want to become an options master? In his free report, options expert Nic Chahine will give you access to the four bulletproof tips for beginners, the secret to scoring 411% gains with options, and his time-tested "plan" for success. Grab your free copy of Options 101: The Beginner's Guide ASAP.

Moderna, Inc. (NASDAQ:MRNA) CEO Stphane Bancelappeared on CNBC's "Squawk Box" Thursday to discuss the company's promising new cancer vaccine developed in partnership with Merck & Company, Inc. (NYSE: MRK).

What Happened: When combined with Keytruda,Moderna'snew vaccine candidatemRNA-4157 (V940)reduced the risk of relapse or death by 49% in melanoma patients and showed a 62% lower risk of the cancer spreading, the Moderna CEO said.

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!

"It's a big day for patients, and we are so excited," Bancel said."We think it's a huge impact on melanoma, it's one in two people. Think about the number of lives that can be impacted, and people that can be saved and live a normal life despite a diagnosis of cancer."

Moderna's CEO told CNBCthe treatment may reach some markets in Europe and Asia by 2025 and could enter theU.S. market by 2028.

Why It Matters: Moderna shares are downmore than 50% year-to-date, and shares of rival drug-maker Pfizer, Inc. (NYSE:PFE) are down 49% this year. Someinvestors are concerned that many of thevaccinestocks that roseduring the pandemic will continue to fall alongsidedeclining demand for Covid vaccines.

When asked about the company's future growth, Bancel said, Number one: we are gaining market share in Covid so that is good for sales growth. We are launching RSV in 24 so thats going to be great for sales growth because we have no sales of RSV in 23, and we have seven Phase 3 products in the pipeline.

Related News: Pfizer Issues FY24 Forecast, Joins Target Hospitality, Southwest Airlines And Other Big Stocks Moving Lower On Wednesday

MRNA Price Action: According to data from Benzinga Pro, Moderna shares are up by more than 9% at $85.76 at the time of publication.

Image:Marco Verchfrom Flickr.

Want to become an options master? In his free report, options expert Nic Chahine will give you access to the four bulletproof tips for beginners, the secret to scoring 411% gains with options, and his time-tested "plan" for success. Grab your free copy of Options 101: The Beginner's Guide ASAP.

2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Follow this link:

Moderna CEO Highlights Promising Cancer Vaccine Data: 'Think About The Number Of Lives That Can Be Impact - Benzinga