Moderna, Inc. (NASDAQ:MRNA) and Merck & Co Inc. (NYSE:MRK) said their personalized mRNA cancer vaccine met the primary endpoints in a Phase 3 melanoma trial, the first reported success for an mRNA-based cancer treatment in a Phase 3 trial. The vaccine is tailored by analyzing a patient’s tumor and helping the immune system identify and attack cancer cells remaining after surgery. The result strengthens the case that Moderna’s mRNA platform could support an oncology business beyond its COVID-19 vaccine. Moderna’s revenue surged from about $800 million in 2020 to nearly $19 billion in 2021 and $20 billion in 2022, before falling to about $7 billion in 2023 and below $2 billion in 2025. The company is also testing the personalized approach in lung, bladder and kidney cancers. The Phase 3 result does not ensure commercial success, and investors still need detailed trial data and progress in other cancers, but it could change how the market values Moderna after the pandemic-era decline.