NYT
Moderna’s Shift to Cancer Company Lifts Stock Up 177%
Thursday, August 20, 2026
Moderna announced a strategic shift toward cancer immunotherapy treatments in 2025 following a significant decline in COVID-19 vaccine demand. The company's stock price increased 177 percent between the announcement and February 2026. Moderna is developing multiple cancer vaccine candidates in partnership with Merck and other pharmaceutical companies.
Original reporting: https://www.nytimes.com/2026/08/20/business/moderna-cancer-melanoma.html