Moderna shares rose 8% to $143.79 Friday morning, after falling more than 13% in premarket trading, extending a third session of sharp reversals after a 177% surge Wednesday on its Phase 3 melanoma result and an 18% drop Thursday. The company’s shares were also shown up 8.86% during an employee celebration at its Cambridge, Massachusetts, headquarters. Moderna and Merck said intismeran, an individualized mRNA cancer vaccine, met the primary endpoint when combined with Keytruda in surgically treated melanoma patients, improving recurrence-free and metastasis-free survival. The result was described as the first successful late-stage trial of an mRNA-based cancer treatment, strengthening the case for a post-COVID oncology business, although the full dataset has not been publicly presented and does not guarantee regulatory or commercial success. Moderna CEO Stéphane Bancel told employees that the decadeslong effort to use mRNA against cancer had opened a new chapter, while investors looked to the ESMO conference in Madrid from October 23 to 27 for further data.