Moderna and Merck's intismeran plus KEYTRUDA cut recurrence or death risk 42% in resected high-risk melanoma Phase 3, with distant metastasis or death down 38%. The data support the mRNA oncology stor

What happened: Merck and Moderna reported Phase 3 INTerpath-001 data in resected high-risk melanoma, where intismeran autogene plus KEYTRUDA reduced recurrence or death versus KEYTRUDA alone. Key numbers: 42% reduction in recurrence or death; 38% reduction in distant metastasis or death; consensus Why it matters: The result supports the oncology leg of the mRNA story and earned a Presidential Symposium slot at ESMO 2026 and acceptance in The New England Journal of Medicine, but analysts remain split on valuation and on whether one-patient-at-a-time manufacturing can scale economically. Market: +2.2% today ($149.52), +41.5% YTD, 1.2x vol — as of 23:45 UTC Verified: Q3_2026 (Oct 29) EPS $2.49 vs $2.09 est, +19.3% beat; next print ~Jan 28

Merck and Moderna reported Phase 3 INTerpath-001 data in resected high-risk melanoma, where intismeran autogene plus KEYTRUDA reduced recurrence or death versus KEYTRUDA alone.

The result supports the oncology leg of the mRNA story and earned a Presidential Symposium slot at ESMO 2026 and acceptance in The New England Journal of Medicine, but analysts remain split on valuation and on whether one-patient-at-a-time manufacturing can scale economically. Market: +2.2% today ($149.52), +41.5% YTD, 1.2x vol — as of 23:45 UTC Verified: Q3_2026 (Oct 29) EPS $2.49 vs $2.09 est, +19.3% beat; next print ~Jan 28