Forget COVID: Moderna Is Turning Into a Cancer Company -- and Wall Street Is Taking Notice

Moderna is transitioning from a COVID-19 vaccine company to an oncology-focused biotech firm. The company announced positive phase 3 results for its personalized cancer vaccine (intismeran autogene) paired with Merck's Keytruda for melanoma treatment. With the global oncology market projected to grow from $253 billion to over $700 billion by 2034, Moderna's stock has surged over 600% this year, though it now trades 61% above Wall Street's average price target of $123.