EL7.AI
StocksMedium•22 October 2026•
2 min read

Moderna shares close at $245.81 ahead of cancer treatment trial data presentation

Key Facts

1Moderna shares closed at $245.81 on October 21, compared with $242.08 on October 20.
2Intismeran with Keytruda reduced the risk of recurrence or death by 49% compared with Keytruda alone in long-term follow-up of the earlier phase two study.
3The combination treatment reduced the risk of distant metastasis or death by 59% compared with Keytruda alone in the same earlier study.
4Bank of America raised its price target for Moderna shares to $220 from $200 while maintaining a neutral rating.
5Detailed trial results were scheduled to be presented at the European Society for Medical Oncology congress on October 24.

Moderna shares closed at $245.81 in the October 21, 2026 session, ahead of the scheduled October 24 presentation of detailed results from the trial of its experimental cancer treatment with Keytruda, according to EL7 data and Investing's coverage ahead of the event. The close was above the $242.08 recorded on October 20, extending a run of strong gains following the announcement of positive preliminary results. Reuters reported on August 19, 2026 that the company's shares more than doubled during trading. That surge added about $30 billion to Moderna's market value, according to the news agency. The reaction at the time was tied to positive preliminary results for the experimental treatment combining intismeran and Keytruda.

Merck said in its announcement that the trial of intismeran with Keytruda met its recurrence-free survival endpoint. It also met a key secondary endpoint for distant metastasis-free survival, alongside the disease recurrence result. On safety, the company said the trial proceeded with "no new safety signals observed." These results follow an earlier phase two study whose long-term follow-up analysis examined the combination treatment against Keytruda alone. In that follow-up, Merck said intismeran with Keytruda reduced the risk of recurrence or death by 49% compared with Keytruda alone. An analysis of the same earlier study showed a 59% reduction in the risk of distant metastasis or death with the combination compared with the single treatment. Both percentages represented relative risk reductions during long-term follow-up of the earlier phase two study.

In an earlier assessment of the stock ahead of the anticipated presentation, Bank of America raised its price target for Moderna to $220 from $200, according to Investing coverage published on October 19, 2026. The bank maintained its neutral rating on the stock despite raising the price target. According to coverage ahead of the event, detailed trial results were scheduled to be presented at the European Society for Medical Oncology congress on October 24. The congress's presidential session was selected for the presentation of those results, following the announcement that endpoints related to recurrence and distant metastasis had been met. Merck said the study would continue to evaluate other secondary endpoints, including overall survival.