Moderna Inc (NASDAQ: NASDAQ:MRNA) shares are trading higher Wednesday after the company announced Merck & Company Inc (NYSE: MRK) has exercised its option to jointly develop and commercialize a personalized cancer vaccine (PCV).
The PCV, mRNA-4157/V940, will be jointly developed and commercialized by the two companies pursuant to the terms of their existing collaboration and license agreement. mRNA-4157/V940 is currently being evaluated in combination with KEYTRUDA, Merck's anti-PD-1 therapy, as adjuvant treatment for patients with high-risk melanoma.
"We have been collaborating with Merck on PCVs since 2016, and together we have made significant progress in advancing mRNA-4157 as an investigational personalized cancer treatment used in combination with KEYTRUDA," said Stephen Hoge, president of Moderna.
"With data expected this quarter on PCV, we continue to be excited about the future and the impact mRNA can have as a new treatment paradigm in the management of cancer."
Merck will pay Moderna $250 million in the third quarter to exercise its option for personalized cancer vaccines. Moderna and Merck will share costs and any profits equally under the collaboration.
MRNA Price Action: Moderna has a 52-week high of $249.42 and a 52-week low of $115.03.
The stock was up 8.74% at $131.28 Wednesday morning, according to Benzinga Pro.
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