Moderna
stock shot up after
Merck
said it is exercising an option to work on a personalized cancer vaccine with the Covid-19 vaccine maker.
Merck (ticker: MRK) will pay
Moderna
(MRNA) $250 million for the joint development and future commercialization of the vaccine, which is currently in Phase 2 clinical trials. The two companies had announced a “strategic collaboration” in June 2016.
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