Shares of Moderna Inc. (NASDAQ:MRNA) are trading lower Monday morning, taking a breather following a multi-day surge driven by clinical trial success.

• Moderna stock is trading near recent highs. What’s next for MRNA stock?

Phase 3 Trial Success Validates mRNA Oncology Platform

The major catalyst arrived last week, when Moderna and development partner Merck & Co. announced positive topline results from their Phase 3 INTerpath-001 trial. The study evaluated intismeran autogene, an experimental individualized mRNA cancer vaccine, in combination with Merck’s Keytruda for patients with high-risk Stage IIB-IV melanoma.

The trial met its primary endpoint of recurrence-free survival and key secondary endpoint of distant metastasis-free survival, demonstrating that the combination therapy significantly extended the time patients lived without cancer returning compared to Keytruda alone.

The successful readout represents the first positive Phase 3 trial result for a personalized mRNA cancer vaccine, providing a landmark proof-of-concept for Moderna’s platform beyond COVID-19 and respiratory treatments.

Following the Wednesday announcement, Moderna’s stock surged over 120% in a single trading session, sparking a wave of Wall Street analyst upgrades and adding tens of billions in market capitalization.

MRNA Shares Slide Monday Morning

MRNA Price Action: Moderna shares were trading lower by 6.49% at $135.71 at the time of publication on Monday, according to Benzinga Pro data.

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