Moderna shares rose about 4.5 percent ahead of detailed Phase 3 data for its personalized cancer vaccine.

Moderna and Merck will present the results on October 24 at the ESMO congress in Madrid.

The vaccine, intismeran autogene, is made for each patient from mutations in their tumour.

The 1,137-patient trial tested it with Keytruda in people with resected high-risk melanoma.

In August, the combination met its main goal of reducing recurrence, but the size of benefit was not disclosed.

UBS says consensus expects a 35 percent cut in recurrence, a hazard ratio of 0.65.

UBS analyst Michael Yee says the stock could rally 10 to 20 percent if that bar is met.

Read the full article for more details on Moderna’s cancer vaccine data.