Moderna shares fall over 25% despite positive melanoma vaccine leak
Moderna's stock just dropped more than 25% (that's a $24 billion loss) after trial results for its personalized melanoma vaccine leaked early.
Even with the chaos, the data actually looked pretty good: paired with Merck's Keytruda, the vaccine reduced the risk of cancer recurrence or death by 42%.
Analysts say this big sell-off is classic after such a huge rally earlier this year.
Analysts optimistic but await survival data
The leaked results will get an official spotlight soon at a major oncology conference.
While some investors are nervous about how widely the vaccine could be used, analysts from UBS and William Blair still sound upbeat.
They think these strong results could help Moderna bounce back, though they're watching for more survival data and updates from health regulators before making any big calls.