RBC likes Moderna, Merck cancer vaccine trial approach

RBC Capital analyst Luca Issi notes, citing a trial that has been posted on ClinicalTrials.gov, that Moderna (MRNA) and partner Merck (MRK) are starting a third potentially pivotal trial in resectable squamous cell carcinoma following the launch of two pivotal trials in the adjuvant settings in melanoma and non-small cell lung cancer, or NSCLC. While the start of a new potentially pivotal trial is “not surprising given recent commentary,” the firm likes that the two companies are exploring tumor type/settings where PD1 alone is not approved and notes that this is the first potentially pivotal trial that will also explore both neo- and adjuvant therapy, the analyst stated. RBC has an Outperform rating and $125 price target on Moderna shares.