Moderna stock surged Monday after the biotech company inked a deal with China's Carsgen to study a new cancer vaccine regimen.
The regimen involves an experimental cell therapy from Carsgen and a potential cancer vaccine from Moderna. Carsgen, whose stock trades in Hong Kong, says its treatment has shown promise in gastric, pancreatic and other digestive system cancers.
The move gives Moderna a second stab at cancer vaccines. The company is partnered with Merck on a bespoke vaccine for patients who've had their melanoma surgically removed. It's also developing a cancer vaccine "off the shelf," meaning the drug won't be tailored to each individual patient.
On today's stock market, Moderna stock popped 9.3% to close at 111.08.
Moderna Stock: A Second Cancer Vaccine
Moderna's second cancer vaccine also relies on messenger RNA technology. Messenger RNA, also known as mRNA, is the body's mechanism for creating proteins. In this case, the cancer vaccine tells the body to make a protein involved in cells' barriers. This protein has ties to several cancer types.
The collaboration sets up Moderna and Carsgen to run preclinical and Phase 1 studies of their drugs in combination. Carsgen Chief Executive Zonghai Li says the company's drug, dubbed CT041, is the most advanced CAR T treatment in development for solid tumors. It's in a pivotal Phase 2 study.
"In our quest to make cancer curable, we are continuously exploring multiple modalities to eradicate tumors," Li said in a written statement. "Attacking tumors with CAR T-cell therapy in combination with a cancer vaccine could potentially provide greater clinical benefit to patients."
The news pushed Moderna stock closer to its 50-day moving average, MarketSmith.com shows. Shares fell below that key line in April.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
