Moderna Inc

Moderna climbed 6% to $154 in morning trading, extending a 137% one-month rally driven by its Phase 2b adjuvant melanoma data showing intismeran autogene plus KEYTRUDA cut the risk of recurrence or death by 49% versus KEYTRUDA alone. No new Moderna announcement, filing, analyst action or trial result landed Thursday to explain the move, and the broader tape offered little help: the iShares Biotechnology ETF rose 1% to $204.5 and the SPDR S&P 500 ETF Trust rose 1% to $763.49. BioNTech, which runs a rival individualized messenger RNA cancer vaccine program with Genentech, edged up just 1% to $97.00, a muted response that suggests the market is paying for Moderna's specific asset rather than the messenger RNA cancer vaccine category as a whole; BioNTech chief medical officer Özlem Türeci has said the company sees no read-through between melanoma and colorectal cancer. Novavax, a vaccine-sector name but not a participant in the messenger RNA cancer vaccine program, rose 2% to $9.5 on what reads as group beta. Merck is Moderna's partner on the individualized neoantigen program, which now spans nine Phase 2/3 trials across melanoma, non-small cell lung cancer, bladder and renal cell carcinoma, and Moderna has guided to an interim analysis from its Phase 3 adjuvant melanoma trial in the second half of 2026, with management saying it is highly confident the interim will be conducted this year. For 2026, Moderna guided to up to 10% revenue growth and year-end cash of $4.7 billion to $5.2 billion, and chief executive Stéphane Bancel has described oncology as a key focus for the second half of 2026; the full dataset from the August readout has not yet been presented publicly, with the oncology congress in Madrid in late October the next scheduled opportunity.

Moderna and Merck reported positive results from the late-stage INTerpath-001 study of intismeran autogene (V940/mRNA-4157) in combination with Keytruda in patients with high-risk Stage IIB-IV melanoma whose tumors had been removed through surgery. The study met its primary endpoint of recurrence-free survival and a key secondary endpoint of distant metastasis-free survival, with the companies stating the improvements were statistically significant and clinically meaningful, though no numerical data were disclosed. INTerpath-001 marks the first positive phase III readout for an individualized neoantigen therapy and an mRNA-based cancer therapy, and five-year follow-up from the phase IIb KEYNOTE-942 study showed the combination reduced the risk of recurrence or death by 49% and the risk of distant metastasis or death by 59% versus Keytruda alone. Moderna and Merck are evaluating intismeran across nine phase II and phase III studies spanning multiple tumor types, including non-small cell lung cancer, bladder cancer and renal cell carcinoma, while Moderna's broader pipeline includes separate mRNA-based cancer antigen therapies, a T-cell engager and a cell-therapy enhancer. Moderna shares have skyrocketed nearly 400% year to date, outperforming the industry's 7% growth, and the stock trades at 23.44 times forward 12-month sales versus the industry average of 1.90 times.

Moderna's stock surged as much as 160% after the company announced positive Phase 3 trial results for its mRNA-based personalized cancer vaccine, which significantly reduced the risk of melanoma recurrence in over 1,100 patients when combined with Merck's Keytruda. The trial was stopped early because the efficacy was so high that standard medical ethics required allowing control-group patients access to the treatment. Despite the jump, shares remain below previous highs, and analysts caution that scaling and pricing questions remain. Meanwhile, Target reported a 5.3% sales increase and a 100% jump in earnings per share, though much of that came from a one-time $994 million tariff refund. The company's digital sales grew 8.7%, and same-day deliveries rose 25%, but analysts question whether the turnaround can sustain the stock's 60% year-to-date gain. In AI news, OpenAI's 18% quarterly growth disappointed investors, while Anthropic more than doubled revenue, and both companies are racing toward IPOs.

Moderna has initiated a Phase 3 trial of its mRNA-based bird flu vaccine, advancing the program into late-stage testing with support from a major international partnership focused on pandemic preparedness. The company has committed to equitable global access, including reserved manufacturing capacity for low- and middle-income countries. This trial is part of Moderna's broader strategy to apply its mRNA platform beyond COVID-19, targeting emerging infectious diseases. The program is backed by CEPI's US$54 million support, and Moderna has pledged to allocate 20% of manufacturing to low- and middle-income countries. Investors should watch for tangible government or multilateral purchase commitments that may follow, as the company's market value stands at about $59.4 billion.

GSK plc announced it will advance its mRNA-based seasonal influenza vaccine candidate into Phase III development, following positive Phase II results showing higher immune responses compared with standard-dose and high-dose flu vaccines in younger and older adults, respectively. The company plans to start the Phase III efficacy study in September 2026, which will be the first study of an mRNA flu vaccine designed to target both haemagglutinin and neuraminidase, potentially improving protection against illness and transmission. The FDA has granted Fast Track designation for the candidate. Year to date, GSK stock has risen 6.1%, while rival Moderna's shares jumped nearly 10% on the news, as investors viewed it as platform validation rather than a threat to its recently approved mRNA flu vaccine, mFlusiva.

Merck and Moderna announced a significant breakthrough in melanoma treatment, as their jointly developed mRNA cancer vaccine met the primary goal in its first Phase 3 trial, significantly extending the period patients lived without melanoma recurrence when combined with Merck's Keytruda compared to Keytruda alone. Following the announcement on Aug. 19, Moderna's shares surged nearly 177%, while Merck rose 12.60%. The global melanoma therapeutics market, estimated at $5.83 billion in 2024, is projected to reach $10.27 billion by 2030, with immunotherapy as the fastest-growing segment. Barclays analysts estimate the vaccine could generate up to $3 billion in annual melanoma-related sales by 2035. Investors seeking exposure may consider healthcare ETFs holding these stocks, such as the iShares Genomics Immunology and Healthcare ETF, where Moderna holds an 8.85% weight, and the VanEck Pharmaceutical ETF, where Merck holds a 10.94% weight.

Moderna led the S&P 500 in August after reporting promising results from a late-stage trial of a personalized mRNA cancer vaccine co-developed with Merck, according to CNBC. The data challenged years of skepticism about the company's mRNA technology following the decline of its Covid-19 vaccine business. Enterprise software stocks accounted for many of the index's other top performers, including Palantir, Veeva Systems, Salesforce, and ServiceNow, which had been under selling pressure due to AI concerns and large short positions held by the leveraged hedge fund Situational Awareness. When the fund was forced to unwind its trades in late July, those shorts became a tailwind for the stocks. Situational Awareness, run by Leopold Aschenbrenner, peaked at $45 billion in assets and lost roughly $35 billion after margin calls from prime brokers Bank of America, Goldman Sachs, and JPMorgan Chase forced a distressed sale to Ken Griffin's Citadel. Salesforce bounced back after better-than-expected quarterly results, while ServiceNow gained on AI integration, and Veeva Systems climbed as the anticipated AI threat failed to materialize. Outside software, Newmont benefited from gold price recovery, Coinbase rose with cryptocurrencies, and Super Micro Computer and Sandisk surged on AI memory demand. Moderna also raised $2 billion through convertible senior notes due 2032, earmarked for its cancer vaccine business, after its stock surged 177% on Aug. 19, adding $44.5 billion to its market capitalization in a single session.

Moderna Inc. saw its share price soar 156 percent in August, making it the highest-gaining stock for the month, driven primarily by strong clinical trial results for its melanoma therapy candidate and supported by a recent regulatory approval for its updated COVID-19 vaccines. The company, in partnership with Merck, is developing a treatment for melanoma combining mRNA-4157 with Keytruda; the phase 3 trial met its primary endpoint of recurrence-free survival and the key secondary target of distant metastasis-free survival, marking the first positive readout from a phase 3 trial for a combination of individualized neoantigen therapy and mRNA-based cancer therapy, and the first to show a clinically meaningful improvement over Keytruda alone. The US alone is expected to see 112,000 new melanoma cases this year, with 8,500 deaths, and globally 330,000 cases were diagnosed in 2022. The rally was also supported by the FDA's approval of Moderna's biologics license application for the 2026-2027 formulas of Spikevax and mNEXSPIKE vaccines, with Spikevax approved for individuals aged 6 months to 64 with at least one underlying condition and all adults 65 and older, and mNEXSPIKE approved for those 12 to 64 with high-risk conditions and all adults 65 and older. Hedge fund conviction strengthened in the second quarter, with 49 funds holding positions, down from 52, but their combined holdings increased 10 percent to $1.5 billion from $1.4 billion quarter-on-quarter.

Merck and Moderna have announced the first positive Phase 3 results for an individualized mRNA neoantigen cancer therapy in melanoma patients, tested in combination with Merck's immunotherapy KEYTRUDA. This marks the first time an mRNA-based personalized neoantigen approach has shown clinically meaningful and statistically significant Phase 3 data in cancer, signaling a potential new path for personalized cancer vaccines. The Phase 3 INTerpath-001 trial covers stage IIB to IV melanoma after surgery, a high-risk group where patients already receive KEYTRUDA in many markets. If regulators approve the combination, Merck could deepen its reach in this existing franchise and add a personalized mRNA revenue stream. The positive readout supports Merck's strategy to offset future KEYTRUDA exclusivity risk with new growth drivers, as its pipeline has nearly tripled since 2021. Investors should watch regulatory filings, overall survival data, and timelines for the other eight INTerpath trials across lung, bladder, and renal cancers.

The health-care sector was on track for its strongest week since June 26, with the Health Care index rising more than 4% in the five trading days leading up to August 21, compared to a 7.9% increase in late June. The spark was a single piece of clinical trial news: Moderna and Merck announced on August 19 that their tailored mRNA cancer treatment was successful in a late-stage trial, significantly improving recurrence-free survival and distant metastasis-free survival compared with Keytruda alone in a study of over 1,100 patients. The Phase 3 trial, dubbed INTerpath-001, tested an individualized cancer vaccine called intismeran autogene in combination with Merck's blockbuster immunotherapy Keytruda in patients with completely resected stage IIB-IV melanoma. The trial achieved both its primary goals, recurrence-free survival, and a critical secondary target, distant metastasis-free survival, when compared to Keytruda alone. The companies stated that no new safety signals arose throughout the trial, and that the results expanded on previous Phase 2b data showing that the combination reduced the risk of recurrence or death by 49% and the risk of distant metastasis or death by 59% compared to Keytruda alone. Personalized neoantigen vaccines have been considered as a cancer treatment concept for many years, but this is the first randomized Phase 3 experiment to definitely confirm their effectiveness. Moderna shares rose around 177% on the day of the news, adding approximately $45 billion to the company's market capitalization, while Merck posted a more modest but still significant 12% single-day rise. More broadly, roughly two-thirds of health-care stocks in a broad screen of over 100 names were higher on the week, with pharmaceutical and life-sciences names such as IQVIA, Danaher, and Thermo Fisher among the sector's other leaders, indicating that the rally is the result of renewed enthusiasm for the industry instead of a single-stock event.

Moderna received FDA approval for updated Spikevax and mNEXSPIKE COVID-19 vaccines tailored to the latest SARS-CoV-2 subvariant, as well as mFlusiva, its first mRNA-based influenza vaccine for adults aged 50 and over. These approvals expand Moderna's respiratory vaccine portfolio and mark the first FDA-authorized mRNA flu shot for older adults. The company, a US-based biotechnology firm developing messenger RNA medicines, sees these approvals as reinforcing its regulatory momentum and diversifying its respiratory offerings against competitors like Pfizer and Novavax in COVID and Sanofi and GSK in flu. However, analysts note that respiratory shots still depend on annual uptake, pricing, and pharmacy stocking, so the key question is how far these launches reduce reliance on a narrow set of seasonal products.

Tempus AI, Inc. (NASDAQ:TEM) rallied after Moderna and Merck reported that their Phase 3 INTerpath-001 trial met its recurrence-free survival endpoint for the personalized cancer therapy intismeran autogene, also known as V940, combined with Keytruda, with detailed data still pending. The read-through came from Personalis, which has supported the V940 program since its inception and which Tempus agreed in July to acquire at a $1.5 billion enterprise value, net of Tempus's existing stake. The clinical win validates Personalis's sequencing capabilities, but it does not establish the economics of either its ImmunoID NeXT platform or the NeXT Personal MRD test, the latter being the central strategic target of the acquisition. Tempus reported 9,000 total MRD tests in the second quarter, up from 6,500 sequentially, while Personalis delivered finalized quarterly revenue of $22.357 million and 10,384 clinical tests, with volume rising 33% sequentially. The deal, structured entirely in Tempus stock at $16.25 per share with an option to pay up to 50% in cash, remains demanding relative to Personalis's scale, as Personalis recorded a second-quarter net loss of $31.683 million, and the $1.5 billion valuation still needs independent economic proof through MRD adoption, reimbursement, and biopharma demand.

Merck shares reached a fresh 52-week high yesterday, driven by investor confidence in its long-term growth prospects, pipeline progress, regulatory approvals, and recent acquisitions. The rally follows positive top-line data from the phase III INTerpath-001 study, which evaluated Merck and Moderna's personalized cancer therapy combo in high-risk melanoma patients, meeting its primary endpoint of recurrence-free survival and key secondary endpoint of distant metastasis-free survival. Merck's biggest revenue driver, Keytruda, recorded sales of $16.40 billion in the first half of 2026, up nearly 4.2% year over year, with its subcutaneous formulation Keytruda Qlex contributing $590 million. The company's newer products, including Winrevair, Capvaxive, and Welireg, have shown encouraging growth, and recent approvals include the RSV antibody Enflonsia, Idvynso, and Lipfendra. Merck also strengthened its pipeline through the 2025 acquisition of Verona Pharma and the 2026 buyouts of Cidara Therapeutics and Terns Pharmaceuticals, and it expects more than $70 billion of potential non-risk-adjusted commercial opportunity from its current pipeline by the mid-2030s, more than double the peak consensus sales estimate for Keytruda of $35 billion in 2028. Year to date, Merck shares have rallied 50.9%, outperforming the industry's 19.9% rise, though the stock trades at a premium with a forward P/E of 21.33 versus the industry's 19.44.

Overnight in the US market, mRNA vaccine maker Moderna saw its share price jump 14.36 percent, lifting vaccine sectors in both A-shares and Hong Kong stocks. On August 26, A-share CanSino Biologics hit the daily limit up, Wantai Biological Pharmacy also hit the daily limit up, while Zhifei Biological Products and Walvax Biotechnology rose more than 6 percent. In Hong Kong, CanSino Biologics surged more than 20 percent. Earlier, Moderna and Merck jointly announced that their personalised mRNA cancer vaccine met the primary endpoint in a Phase III clinical trial, making it the world's first personalised neoantigen therapy to deliver a positive result. Chinese companies such as CanSino Biologics have already announced plans to develop personalised mRNA tumour vaccines. However, the vaccine currently targets only melanoma, and its production cost is relatively high, so it is still some distance from being widely available to ordinary patients. Industry insiders estimate that its cost is lower than cell therapy but higher than ordinary antibody drugs, and China's mRNA cancer vaccine development remains in the early clinical stage.

Dick's Sporting Goods shares plunged more than 27% after the retailer reported revenue of $5.59 billion, below the $5.65 billion expected by analysts polled by LSEG, citing a challenging footwear market. Dynatrace rose 3% after Morgan Stanley upgraded it to overweight, while Shift4 Payments gained nearly 4% on a Wells Fargo upgrade to overweight. Moderna rallied 13% after Wolfe Research upgraded it to peer perform, and Marvell Technology jumped 5% after Susquehanna and Rosenblatt raised price targets. Advanced Micro Devices gained 5% after Raymond James upgraded it to strong buy with a $641 price target, and Kura Oncology climbed almost 10% after its CEO disclosed buying 100,000 shares. Navitas Semiconductor rose 5% after announcing a $232.8 million deal to acquire Claros.

Merck & Co., Inc. jumped 12.6% to a record $152.20 on August 19 after a pivotal melanoma trial validated intismeran autogene, the individualized mRNA cancer therapy developed with Moderna. In the 1,137-patient Phase 3 INTerpath-001 study, intismeran plus Keytruda produced statistically significant and clinically meaningful improvements in recurrence-free survival and distant-metastasis-free survival compared with Keytruda alone, with no new safety concerns. The result strengthens the case that Keytruda, which generated $31.68 billion in 2025 sales, can remain commercially relevant after its primary compound patent expires in December 2028. However, Merck and Moderna share development costs and profits equally, and the companies have not disclosed Phase 3 effect sizes or overall-survival data, leaving approval, pricing, and reimbursement unresolved.

Merck and Moderna announced positive topline Phase 3 results for their individualized cancer vaccine intismeran autogene in resected melanoma, beating Keytruda alone on recurrence-free survival, though no specific efficacy numbers have been released yet. The news lifted several biotech names, with BioNTech surging 21.6% on read-across excitement and Illumina rising 15.6% to $223.22 because its NovaSeq X sequencers are required for every individualized neoantigen dose manufactured. Pacific Biosciences gained 5.8% to $1.28, Repligen traded at $181.62 after reporting second-quarter revenue of $204 million with 13% organic growth, and Danaher saw mid-teens bioprocessing order growth in the second quarter. Leerink Partners analyst Daina Graybosch called the market reaction overly optimistic but still raised her 2032 intismeran forecast to $1.4 billion, while Morningstar projects $16.8 billion by 2035.

Moderna and Merck announced that their individualized mRNA neoantigen therapy paired with Keytruda hit its primary endpoint in the Phase 3 INTerpath-001 melanoma trial, triggering a nearly 177% rally in Moderna, a gain of over 12% for Merck, and a jump of more than 4% in the SPDR S&P Biotech ETF to its highest level since February 2021. The trial win lifted gene-editing and AI drug discovery names broadly, with Prime Medicine, Intellia, CRISPR Therapeutics, Editas Medicine, and Beam Therapeutics rallying alongside the sector, and the iShares Genomics Immunology and Healthcare ETF jumping 13.53% in a single session on 2.8 times average volume. Analysts have turned more constructive on biotech ETFs, citing valuation, technical momentum, and M&A potential, with Bank of America's Research Investment Committee noting biotech has generated returns of roughly 10% or more since June and is being flagged as a diversification play away from crowded technology positioning. Potential targets for M&A include Revolution Medicines, IDEAYA Biosciences, Arcus Biosciences, and Iovance Biotherapeutics, while risks include macro shocks and the structural volatility of small-cap clinical-stage names.

Moderna and Merck announced that their personalized mRNA cancer therapy intismeran autogene, combined with Keytruda, met its primary endpoint of recurrence-free survival in a late-stage melanoma study. The INTerpath-001 trial also met the secondary goal of distant metastasis-free survival in patients with high-risk Stage IIB-IV melanoma after surgery. The companies are testing intismeran in nine additional phase II and III studies across lung, bladder, and kidney cancers. Moderna sees the result as validation of its mRNA platform beyond infectious-disease vaccines, though it still faces competition from BioNTech and others, and its stock trades at a premium with a Zacks Rank of 3, or Hold.

Merck and Moderna announced that their Phase 3 INTerpath-001 trial of the personalized mRNA cancer vaccine Intismeran, combined with Keytruda, met its primary endpoints of recurrence-free survival and distant metastasis-free survival in patients with completely resected stage IIB-IV melanoma. The trial enrolled 1,137 patients, and the companies called it the first positive Phase 3 result for an individualized mRNA cancer therapy. Merck shares jumped about 12.5%, adding roughly $43 billion in market value, as investors saw the result as validation of the technology and a potential answer to the looming patent cliff for Keytruda in 2028. Goldman Sachs raised its price target to $160 from $140, while UBS, Bank of America, and JPMorgan also lifted targets, though RBC downgraded the stock to Sector Perform. The companies plan to present full data and file with regulators, with additional readouts in kidney, bladder, and lung cancers expected in 2026 and 2027.

GeoVax Labs highlighted positive Phase 3 results from Moderna and Merck's intismeran autogene plus KEYTRUDA combination in resected high-risk melanoma, calling it clinical validation for its planned Gedeptin plus KEYTRUDA study. The INTerpath-001 trial met its primary endpoint of recurrence-free survival and a key secondary endpoint of distant metastasis-free survival, showing statistically significant and clinically meaningful improvements over KEYTRUDA alone. GeoVax believes the success reinforces the broader paradigm of combining checkpoint inhibition with therapies that generate or enhance anti-tumor immune responses, directly supporting its Gedeptin development strategy. Gedeptin uses a gene-directed enzyme prodrug therapy to destroy tumors locally and prime the tumor microenvironment, and published preclinical research showed enhanced anti-tumor immune responses when combined with anti-PD-1 therapy. GeoVax is preparing the next phase of Gedeptin clinical development in combination with KEYTRUDA for head and neck squamous cell carcinoma.

In the US market, the flow of funds from AI-related stocks to pharmaceutical stocks has strengthened, and shares of biopharmaceutical maker Moderna, which announced positive clinical trial results for a skin cancer vaccine, surged 2.3 times compared with the previous weekend. Merck, a major pharmaceutical company co-developing the cancer vaccine with Moderna, also rose 12.3 percent, with pharmaceutical stocks taking over the market's lead from AI stocks. Last week, stock prices fell sharply, led by AI stocks, due to concerns over rising global long-term interest rates and massive corporate bond issuance by AI companies. This week, Nvidia's earnings are scheduled for the 27th, and Federal Reserve Chair Warsh's speech at the Jackson Hole conference is scheduled for the 28th. Nvidia is expected to post rapid growth in both revenue and profit for the May-July 2026 quarter, nearly doubling year over year, but its stock price has continued to fall after earnings releases due to concerns over circular transactions involving massive loans to customers.

Moderna nearly doubled in value on Wednesday after its messenger-RNA-based cancer vaccine, developed with Merck, succeeded in a late-stage trial for melanoma patients. The Phase 3 INTerpath-001 trial met its primary endpoint of recurrence-free survival and a secondary endpoint of distant metastasis-free survival versus Merck's Keytruda alone. William Blair upgraded Moderna to Outperform from Market Perform, and CEO Stephane Bancel said the personalized shot could be approved as early as 2027. Separately, Aurora Cannabis confirmed Curaleaf Holdings has commenced an unsolicited takeover bid for all outstanding shares at implied consideration of $4 per share, comprising 0.3463 Curaleaf shares and $0.75 in cash. Eli Lilly also inked a collaboration with privately held Amplitude Therapeutics to develop trans-amplifying RNA vaccine candidates for infectious diseases, while Twist Bioscience jumped more than 15% after Anthropic selected it as an independent evaluator for AI-designed protein binders.

Moderna delivered one of the largest single-session moves for an S&P 500 company, closing 177% higher at $174.38 on Wednesday after reporting positive late-stage data for its personalized cancer vaccine. The stock pulled back over 23% on Thursday before adding more than 10% so far on Friday, leaving it on course for a gain of around 135% over the week. The Phase 3 trial evaluated Moderna's intismeran alongside Merck's Keytruda in advanced skin cancer, and met its primary goal of recurrence-free survival, with a key secondary endpoint on distant metastasis-free survival also met and no new safety signal reported. Crypto-exposed equities rallied hard this week after bitcoin surged on the U.S. Treasury's decision to at least double the size of its long-dated bond buyback operations, alongside supportive comments on the sector from President Donald Trump. The Treasury raised the maximum per-operation size from $2 billion to at least $4 billion for the 10-to-20-year and 20-to-30-year sectors, effective Sept. 9 through Nov. 4. Bitcoin is currently above $77,000, having hit a high of $79,461 earlier in Friday's session. As a result, Strategy has risen 25.9% over the week, with Marathon Digital up 22.5%, Coinbase 23.1% higher, Circle up 16.3%, Galaxy Digital 12.3% higher and Robinhood up 9.7%. The same Treasury announcement also lifted metals producers, with the dollar weakening and precious metal prices moving higher. Agnico Eagle leads the group so far on Friday with an 18.4% gain over the week, followed by Barrick at 15%, Freeport-McMoRan up 14% and Newmont 13.3% higher. The dollar has declined, with spot gold gaining more than 2% on Friday and over 6% in the past week. Estée Lauder jumped more than 16% on Wednesday and is set to finish the week up around 15.9% after fourth-quarter results came in ahead of expectations. Sales rose 6%, beating consensus of 4%, while adjusted earnings of $0.39 per share topped the $0.32 expected. Management pointed to share gains in mainland China and growth across all product categories except hair care, alongside continued progress on cost-cutting through its One ELC initiative and Profit Recovery and Growth Plan. Canaccord analyst Susan Anderson raised her price target for the stock to $90 from $85, maintaining a Hold rating following the release. Walmart is the week's notable loser, sinking 9.2% on Thursday and down a further 0.9% so far on Friday after second-quarter results that beat on the headline numbers but disappointed on the metric that mattered most. Comparable sales at Walmart-only U.S. stores excluding gas grew 2.6%, well short of the 3.67% consensus and the slowest U.S. sales growth in six years. Mizuho analyst David Bellinger described the outcome as a worst-case scenario, calling it a very messy print and one of the biggest misses in years from the retailer.

The Phillip World Innovation Fund, or PWIN, and the Phillip World Innovation Retirement Mutual Fund, or PWINRMF, have received a positive boost from the global rise in healthcare stocks, one of the three core investment themes the funds emphasize, alongside information technology, semiconductors, AI and data centers, and clean energy infrastructure. The S&P 500 Healthcare Index has risen 10.8% since the outbreak of conflict in the Middle East, calculated from the closing price on March 2, 2026, compared with the closing price on August 19, 2026, according to Bloomberg data. A specific positive factor came from late-stage trial results in patients with melanoma skin cancer, indicating that the use of Moderna's mRNA vaccine in combination with Merck's Keytruda produced positive outcomes. This sent Moderna's share price soaring by as much as 176% and lifted Merck's shares by 12% on August 19 alone. Other healthcare stocks such as Eli Lilly, Novartis, and Pfizer also saw significant gains.

Treasury Secretary Bessent's doubled liquidity support buybacks reignited the debasement trade this week, sending gold back above 4,500 and triggering a massive crypto short squeeze that propelled Bitcoin up about 15% and Ethereum up 25%, according to Michael Reinking, Senior Market Strategist at the NYSE. Escalating Iran tensions pushed ICE Brent into the low 90s after a 60-day ceasefire expired, while equity markets drifted lower with the S&P 500 down about 1.5% as retail earnings disappointed broadly and healthcare surged nearly 4% on landmark cancer trial results from Merck and Moderna. Looking ahead, next week's PCE print, Nvidia earnings, and Fed Chair Warsh's first Jackson Hole speech are the marquee events to watch.

Moderna co-founder Robert Langer has re-entered the billionaires club with a net worth of roughly $1.7 billion after promising cancer vaccine trial results sent the company's stock soaring. The surge followed Wednesday's announcement that Moderna and Merck's mRNA cancer vaccine hit its goals in a Phase 3 trial targeting melanoma, which sent Moderna's stock up more than 100% and pushed the value of Langer's roughly 3% stake past the billion-dollar threshold. This marks the second time Langer has achieved ten-figure wealth, having first entered the club in November 2020 when Moderna shares surged on Phase 3 results for its COVID-19 vaccine, with Forbes peaking his net worth at $4.9 billion in 2021 before it plunged. Langer, 77, had seen his stake fall to about $343 million when Moderna shares hit a low of $29.81 in early January, but he has long urged young workers to prioritize meaningful work over money and job security.

Moderna and Merck reported promising results in their melanoma vaccine trial, sending the stocks soaring. BD8 Capital Partners CEO and CIO Barbara Doran said the news highlights technological breakthroughs and could bring attention to the broader healthcare sector, noting Moderna and Merck have eight other trials ongoing. Yahoo Finance Markets and Data Editor Jared Blikre noted Moderna is up 127% over two days despite a 17% pullback, and that biotech has been breaking out for several months with the large-cap healthcare sector at record highs.