Moderna Inc (MRNA)

[DewDiligence]

More on mRNA-1427 from Evaluate Vantage:

https://www.evaluate.com/vantage/articles/events/conferences-trial-results/aacr-2023-more-hope-modernas-neoantigen

December’s toplining of the first ever positive results from a controlled trial of a cancer immunotherapy, Moderna’s mRNA-4157, caused jubilation [#msg-170681303, #msg-170681207]. The group’s valuation gained $15bn, and the news validated Merck & Co’s earlier $250m bet on the project.

But was the enthusiasm warranted? The answer, after full data from the Keynote-942 trial in adjuvant melanoma were unveiled at AACR today, seems to be: maybe.

…At AACR it was revealed that the RFS rates at 18 months were 78.6% for the immunotherapy combo [i.e. mRNA-1427 + Keytruda], versus 62.2% for Keytruda alone. Severe adverse events occurred in 25% versus 18% of patients respectively…

…The RFS result cut at 12 months came out at 77% for control and 83% for Keytruda plus mRNA-4157…

…Moderna said a phase 3 melanoma trial would begin soon, with studies in "lung cancer and beyond" also planned.

Until today, all that was known about this trial's efficacy was that the HR for DFS was 0.56 with a 1-sided p-value of 0.027.