Moderna Shares Plunge 25% After Data Leak

Moderna's stock tumbled 25% on Thursday after a leak of partial cancer vaccine data. The leak came before the full phase-3 results, which were released later that day and looked promising. The personalized shot, intismeran autogene, paired with Merck's Keytruda cut melanoma recurrence or death by 42%. It also lowered the chance of distant spread or death by 38% versus Keytruda alone. Investors hope the vaccine could become a breakthrough product and broaden Moderna's pipeline beyond COVID. The company's shares have surged over 530% YTD, making the drop a sharp correction. Results are set to be presented at the European Society for Medical Oncology conference this weekend. The data leak shows how volatile the market is on a single data point. Only time will tell if the vaccine can keep its promise.