Moderna stock crashes as leaked melanoma data threatens its record August rally

What happened: Leaked late-stage melanoma trial data from Moderna (MRNA) circulated ahead of its official release, and the stock is on track for its biggest drop on record. Merck (MRK), Moderna's partner on the vaccine, confirmed the results came out early. Key numbers: MRNA at 192.62, down 53.19 (-21.65%). Why it matters: The leaked numbers are still good, but the stock had already run nearly fourfold, so the reaction reflects how much was priced in. Merck fell nearly 4% at its low before paring most of the drop, while the rest of healthcare rallied. Market: +3.8% today ($267.61), +30.5% YTD, 1.2x vol — as of 20:17 UTC

Leaked late-stage melanoma trial data from Moderna (MRNA) circulated ahead of its official release, and the stock is on track for its biggest drop on record. Merck (MRK), Moderna's partner on the vaccine, confirmed the results came out early.

The leaked numbers are still good, but the stock had already run nearly fourfold, so the reaction reflects how much was priced in. Merck fell nearly 4% at its low before paring most of the drop, while the rest of healthcare rallied. Market: +3.8% today ($267.61), +30.5% YTD, 1.2x vol — as of 20:17 UTC