Moderna (MRNA.O) shares tumbled as much as nearly 25% intraday on Thursday;
Merck (MRK.N) fell 3.7%. Data from the experimental cancer vaccine the two firms
are developing appears to have been posted early on medical site Oncology
Central and was subsequently removed; the results had been scheduled for
presentation at the European Society for Medical Oncology (ESMO) meeting on
Saturday. The briefly posted data suggested the vaccine, administered with
Merck’s Keytruda, reduced the risk of melanoma recurrence or death. Both
companies had previously said the Phase III trial met its primary endpoint but
have not published detailed results.