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Moderna (MRNA) Up After Merck Exercises Option for Cancer Jab
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Shares of Moderna (MRNA - Free Report) were up 8.3% on Oct 12 after management announced that partner Merck (MRK - Free Report) exercised an option under an existing collaboration agreement. Per the agreement, the companies will jointly develop and commercialize Moderna’s personalized cancer vaccine (PCV) candidate, mRNA-4157/V940.
In consideration for exercising the option, Merck will pay $250 million to Moderna. This payment will be made by Merck in third-quarter 2022 and included in its non-GAAP financial results. Per the terms of collaboration, the companies will share costs and profits equally.
mRNA-4157 is currently being evaluated in a mid-stage study by Moderna in combination with Merck’s blockbuster cancer drug Keytruda as an adjuvant treatment for patients with high-risk melanoma. Data from this study is expected later this year during the fourth quarter.
Shares of Moderna have lost 48.5% in the year compared to the industry’s 27.3% decline.
Image Source: Zacks Investment Research
Merck and Moderna entered a strategic partnership in 2016 to develop and commercialize mRNA-based personalized vaccines for the treatment of various types of cancer.
Following the end of the pandemic in the United States and the government encouraging citizens to resume pre-pandemic activities, Moderna is engaged in commercializing its non-COVID pipeline and reducing dependence on its COVID-19 vaccine sales, which are expected to decline in future quarters as COVID infections wane.
Currently, Moderna has three late-stage candidates — mRNA-1647, mRNA-1345 and mRNA-1010 — in its pipeline, which are being developed as cytomegalovirus (CMV) vaccine, respiratory syncytial virus (RSV) vaccine and influenza vaccine, respectively. A successful development of any or all of these candidates and potential commercialization will help lower the company’s dependence on a single product for revenue.
Moderna currently carries a Zacks Rank #3 (Hold). A couple of better-ranked stock in the overall healthcare sector includes Aerie Pharmaceuticals and Catalyst Pharmaceuticals (CPRX - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for Aerie Pharmaceuticals’ 2022 loss per share have narrowed from $1.83 to $1.82. During the same period, the loss estimates per share for 2023 have narrowed from $1.01 to $0.96. Shares of Aerie Pharmaceuticals have gained 116.7% in the year-to-date period.
Earnings of Aerie Pharmaceuticals beat estimates in two of the last four quarters and missed the mark twice, witnessing a surprise of 70.27% on average. In the last reported quarter, AERI delivered an earnings surprise of 38.46%.
In the past 60 days, estimates for Catalyst Pharmaceuticals’ 2023 earnings per share have increased from $0.84 to $0.85. Shares of Catalyst Pharmaceuticals have surged 83.2% in the year-to-date period.
Earnings of Catalyst Pharmaceuticals beat estimates in one of the last four quarters, missed the mark on two occasions and met the mark just once, reporting a negative surprise of 5.41% on average. In the last reported quarter, NVS delivered an earnings surprise of 17.65%.
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Moderna (MRNA) Up After Merck Exercises Option for Cancer Jab
Shares of Moderna (MRNA - Free Report) were up 8.3% on Oct 12 after management announced that partner Merck (MRK - Free Report) exercised an option under an existing collaboration agreement. Per the agreement, the companies will jointly develop and commercialize Moderna’s personalized cancer vaccine (PCV) candidate, mRNA-4157/V940.
In consideration for exercising the option, Merck will pay $250 million to Moderna. This payment will be made by Merck in third-quarter 2022 and included in its non-GAAP financial results. Per the terms of collaboration, the companies will share costs and profits equally.
mRNA-4157 is currently being evaluated in a mid-stage study by Moderna in combination with Merck’s blockbuster cancer drug Keytruda as an adjuvant treatment for patients with high-risk melanoma. Data from this study is expected later this year during the fourth quarter.
Shares of Moderna have lost 48.5% in the year compared to the industry’s 27.3% decline.
Image Source: Zacks Investment Research
Merck and Moderna entered a strategic partnership in 2016 to develop and commercialize mRNA-based personalized vaccines for the treatment of various types of cancer.
Following the end of the pandemic in the United States and the government encouraging citizens to resume pre-pandemic activities, Moderna is engaged in commercializing its non-COVID pipeline and reducing dependence on its COVID-19 vaccine sales, which are expected to decline in future quarters as COVID infections wane.
Currently, Moderna has three late-stage candidates — mRNA-1647, mRNA-1345 and mRNA-1010 — in its pipeline, which are being developed as cytomegalovirus (CMV) vaccine, respiratory syncytial virus (RSV) vaccine and influenza vaccine, respectively. A successful development of any or all of these candidates and potential commercialization will help lower the company’s dependence on a single product for revenue.
Moderna, Inc. Price
Moderna, Inc. price | Moderna, Inc. Quote
Zacks Rank & Stocks to Consider
Moderna currently carries a Zacks Rank #3 (Hold). A couple of better-ranked stock in the overall healthcare sector includes Aerie Pharmaceuticals and Catalyst Pharmaceuticals (CPRX - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for Aerie Pharmaceuticals’ 2022 loss per share have narrowed from $1.83 to $1.82. During the same period, the loss estimates per share for 2023 have narrowed from $1.01 to $0.96. Shares of Aerie Pharmaceuticals have gained 116.7% in the year-to-date period.
Earnings of Aerie Pharmaceuticals beat estimates in two of the last four quarters and missed the mark twice, witnessing a surprise of 70.27% on average. In the last reported quarter, AERI delivered an earnings surprise of 38.46%.
In the past 60 days, estimates for Catalyst Pharmaceuticals’ 2023 earnings per share have increased from $0.84 to $0.85. Shares of Catalyst Pharmaceuticals have surged 83.2% in the year-to-date period.
Earnings of Catalyst Pharmaceuticals beat estimates in one of the last four quarters, missed the mark on two occasions and met the mark just once, reporting a negative surprise of 5.41% on average. In the last reported quarter, NVS delivered an earnings surprise of 17.65%.