Merck, Moderna melanoma vaccine succeeds

Merck and Moderna announced positive results from a large late-stage trial of their personalized mRNA cancer vaccine, which significantly reduced the recurrence of melanoma.

Moderna's shares soared on the news, and the treatment is seen as a major breakthrough in oncology.

The vaccine, which is personalized to each patient's tumor, reduced the risk of recurrence and spread in high-risk patients.

Analysts say the success could usher in a wave of similar cancer vaccines targeting other tumor types.