Oct 30, 2026 · 20 min
Cancer vaccine data meets market volatility at ESMO
419: Assessing Merck and Moderna's mRNA cancer vaccine
The episode separates the clinical significance of personalized mRNA cancer-vaccine results from investor reaction and places them alongside advances in lung-cancer treatment.
- 1Moderna and Merck’s personalized mRNA vaccine plus Keytruda reduced melanoma progression risk, while treatment timing and wider use remain open questions.
- 2An embargo breach helped trigger Moderna’s stock decline, illustrating how market expectations can distort the reading of clinical results.
- 3ESMO also highlighted survival gains from dual immunotherapy and expanding KRAS-targeted options for lung and pancreatic cancers.
Don't miss
The hosts explain why Moderna’s stock fell after an embargo breach even though the underlying melanoma results were not presented as disappointing.
The brief
At ESMO in Spain, the hosts examine Moderna and Merck’s personalized mRNA cancer vaccine with Keytruda, focusing on melanoma results and how clinicians might use it.
The reported reduction in melanoma progression risk is encouraging, but questions remain about when to give the vaccine and whether the approach can extend beyond melanoma.
An oncology website’s early publication breached the conference embargo and helped drive a sharp Moderna stock reaction, which the hosts attribute to expectations and market dynamics.
The broader meeting also produced consequential lung-cancer data: Amgen and AstraZeneca’s dual-immunotherapy combination improved survival, while KRAS inhibitors expand targeted treatment options.
The episode closes with a farewell to Allison DeAngelis as she leaves STAT for Bloomberg News, followed by tributes to her curiosity, generosity, and reporting.
What was said on this episode
13 statements · 12 positive · 1 negative
Entismeran plus Keytruda reduced melanoma progression risk by 42% versus Keytruda alone.
“The top line was a 42% reduction in the risk of disease progression.”
Listen at 2:35
- Andrew Josephon Entismeran plus KeytrudaPositive3:04
Doctors will consider adding Entismeran to Keytruda for eligible melanoma patients.
“a lot of doctors who would normally treat this group of patients with Keytruda will start considering adding this as well.”
Listen at 3:04
- Andrew Josephon Personalized cancer vaccinesNegative4:05
Personalized cancer vaccines will not work across all tumor types.
“they're not going to work everywhere.”
Listen at 4:05
Lower-priced copycat versions of Keytruda will become available within a few years.
“in a few years, we're going to have copycat versions of drugs like Keytruda that will be available hopefully at much lower prices”
Listen at 5:04
Entismeran efficacy in lung cancer would have a major impact.
“if antismorin can work in lung cancer, that would be gigantic.”
Listen at 6:04
- Andrew Josephon M-Deltra plus ImfinziPositive9:13
Amgen's M-Deltra plus AstraZeneca's Imfinzi cut death risk by 58%.
“it actually cut the risk of death by 58% compared to mfinziolone”
Listen at 9:13
- Andrew Josephon M-Deltra plus ImfinziPositive9:31
M-Deltra plus Imfinzi will likely become the new standard of care.
“this will likely be the new standard of care pending approval and all that stuff.”
Listen at 9:31
Roche's Devaracib reduced death risk 44% and progression risk 42% versus older KRAS inhibitors.
“Devaracib outperformed them. It cut the risk of death by 44% and cut the risk of progression by 42%.”
Listen at 10:55
Devaracib will become standard of care in second-line treatment.
“this will become standard of care in this second line setting.”
Listen at 11:11
Drug development has made KRAS a tractable therapeutic target.
“unlock this target KRAS that was once thought to be undruggable.”
Listen at 11:30
Combining G12D inhibitors with chemotherapy may improve responses, durability, and toxicity.
“you can get better response rates, more durability, and potentially less toxicity with these combinations.”
Listen at 12:08
- Andrew Josephon KRAS inhibitorsPositive13:02
KRAS inhibitors are changing treatment for certain cancers.
“it is changing the treatment of certain cancers.”
Listen at 13:02
Pancreatic cancer now has an approved targeted therapy and additional therapies in trials.
“Now they have this one targeted therapy. and many more in clinical trials.”
Listen at 14:06
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.
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