Moderna stock jumps on planned national cancer vaccine effort

What happened: Moderna (MRNA) shares rose 14% Friday to their highest level since January 2022 after the New York Times reported details of an effort to accelerate cancer vaccine development, a public-private partnership expected to launch in December. Key numbers: MRNA +14% Friday, highest since January 2022, up 662% year to date. Why it matters: Investors saw the mRNA biotech company as a beneficiary, and biotech stocks including Pfizer (PFE), BioNTech (BNTX), and Merck (MRK) rallied on the news. Cancer vaccines are viewed as an emerging bet and the next frontier in cancer treatment. Market: -1.2% by next close ($95.84 on Oct 12), -8.3% YTD

Moderna (MRNA) shares rose 14% Friday to their highest level since January 2022 after the New York Times reported details of an effort to accelerate cancer vaccine development, a public-private partnership expected to launch in December.

Investors saw the mRNA biotech company as a beneficiary, and biotech stocks including Pfizer (PFE), BioNTech (BNTX), and Merck (MRK) rallied on the news. Cancer vaccines are viewed as an emerging bet and the next frontier in cancer treatment. Market: -1.2% by next close ($95.84 on Oct 12), -8.3% YTD