Novavax Soars 16%, Moderna Surges 11%, Merck Climbs 3% as Biotech Rallies
The initiative could accelerate personalized mRNA research and add momentum to companies already developing cancer vaccines, analysts said.
- On Friday, Moderna shares rose 5% to $208 after its addition to the NASDAQ 100 took effect, forcing index funds to purchase shares based on benchmark mechanics alone.
- A New York Times report detailed a public-private partnership led by the National Institutes of Health to accelerate cancer vaccine research, sparking a sector-wide biotechnology rally on Friday.
- Novavax surged 14%, BioNTech rose 3%, and Pfizer gained 0.7%, while the iShares Biotechnology ETF jumped 2% versus just 0.5% for the broader market.
- The initiative aims to replicate COVID-19 vaccine success by leveraging mRNA technology to help immune systems identify and attack abnormal proteins unique to patient tumors.
- Analysts express caution regarding Moderna's $77 billion market cap, noting that despite positive clinical results for personalized vaccine Intismeran, the stock has risen beyond intrinsic value.
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New details have emerged about an initiative that will start in December to accelerate vaccine development, similar to the successful Covid-19 vaccine campaign
A large-scale public-private partnership is being launched in the United States to accelerate the development of cancer vaccines. The National Cancer Institute (NCI) says that new types of personalized therapeutic vaccines are so promising that they require a broad national effort, the New York Times reported, citing a report that is still unpublished.
Moderna Climbs 5% on NASDAQ 100 Entry; Pfizer Inches Higher, BioNTech Ticks Up
Moderna (NASDAQ:MRNA) stock trades at $207.80, up 5%, after its addition to the NASDAQ 100 took effect. That entry places a company once valued as a COVID-19 vaccine maker inside one of the most widely tracked growth benchmarks in the market. Meanwhile, Pfizer (NYSE:PFE) stock is at $28.02, up 0.7%, a far smaller gain than […]
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