Moderna Inc said on Wednesday its experimental personalised mRNA skin cancer vaccine in combination with Merck & Co Inc's drug Keytruda has received breakthrough therapy designation from US regulators as an additional treatment for high risk patients.
Shares of Moderna rise 2.5 per cent to $164 after the market.
The breakthrough tag is granted by the US Food and Drug Administration (FDA) based on data from a mid-stage study of the drug that showed the therapy reduced risk of skin cancer's recurrence or death by 44 per cent compared with Keytruda alone.
The FDA's breakthrough therapy designation is granted to expedite the development and review of drugs that are intended to treat a serious condition.
The companies said they plans to initiate a late-stage study in adjuvant treatment of melanoma in 2023.