Moderna stock falls 25%, loses about $24 billion after cancer vaccine data leak

Moderna's stock price fell more than 25% after results from a trial of its personalized melanoma vaccine, developed with Merck, were disclosed.

The decline wiped out roughly $24 billion from Moderna's market value, ending a strong rally that had lifted the stock earlier this year.

Analysts said the sell-off was not unexpected, as investors often sell once news becomes public.

Despite the drop, the trial showed promising reductions in cancer recurrence when the vaccine was paired with Merck's Keytruda.