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NIH reportedly advancing cancer vaccine development; Moderna +14%, Novavax +16%, Merck and Gilead +2%+ on Friday
What happened
Vaccine stocks surged on Friday, October 9, on a report that the U.S. National Institutes of Health (NIH) is advancing cancer vaccine development efforts. Moderna jumped 14.2% and Novavax climbed 15.8%, while Merck and Gilead Sciences each gained more than 2%. Healthcare was one of the day's strongest S&P 500 sectors as investors priced in the prospect of government-backed funding and validation for cancer vaccine platforms.
Why it matters & what’s next are part of Pro, along with the audio summary.
Start your free 14-day trialWho’s affected
- MRNA — +14.2% Friday; most levered to an mRNA cancer-vaccine narrative
- NVAX — +15.8% Friday; vaccine-platform re-rating candidate
- MRK — +2%+; partnered with Moderna on personalized cancer vaccines
- GILD — +2%+; healthcare sympathy move
- Healthcare/vaccine sector broadly — one of Friday's top-performing groups
Sources