Moderna shares rose more than 14% on Friday after The New York Times reported that the National Institutes of Health plans to launch a national cancer research campaign in December. The stock traded as high as $225.00, setting a new 52-week high for Moderna, Inc. (NASDAQ: MRNA).

The proposed program would seek to accelerate cancer-treatment research using a public-private model similar to the initiative that helped speed the development of Covid-19 vaccines. The effort would bring together researchers from pharmaceutical companies and nonprofit organizations.

Early research is expected to focus on pancreatic, liver, and colorectal cancers, as well as pediatric tumors. Moderna is viewed as a potential partner because of its mRNA platform — the same technology behind its Covid-19 vaccine — and the infrastructure it has developed over several years.

Artificial intelligence is also expected to contribute to the work. Researchers are using AI to help design cancer treatments tailored to an individual patient’s immune system. The combination of AI and mRNA technology has helped keep Moderna in discussions surrounding the proposed initiative.

A post by Kyle Reidhead of Milk Road on X also noted Moderna’s move into the Nasdaq-100 Index and cited the reported NIH initiative:

$MRNA is up 11% today to a new 52-week high, and it's now the best-performing S\u0026P 500 stock of 2026 at 640% YTD! Moderna officially joined the Nasdaq-100 this morning, replacing Warner Bros. Discovery, so the index funds tracking it had to buy The NYT also reported the NIH is… pic.twitter.com/CJQ1aie2gu — Kyle Reidhead | Milk Road (@KyleReidhead) October 9, 2026

The post said Moderna officially joined the Nasdaq-100 on October 9, replacing Warner Bros. Discovery. The index change followed Warner Bros. Discovery’s acquisition by Paramount-Skydance, and index funds tracking the Nasdaq-100 — one of the market’s most widely followed benchmarks — were required to purchase Moderna shares, a purchase mandated by index rules rather than discretionary choice.

Moderna-Merck Cancer Therapy Data

The NIH report comes after Moderna and Merck released new data in August on their combined cancer treatment. The therapy pairs Moderna’s mRNA-based treatment with Merck’s Keytruda, a widely used immunotherapy. In patients with high-risk melanoma, the combination extended the time before the cancer returned or spread.

The results have attracted analyst attention. However, InvestingPro analysis has characterized Moderna as overvalued at current levels. The stock has gained 657% over the past year, driven by a combination of vaccine demand and renewed interest in the company’s cancer pipeline.

Analyst opinions remain mixed. Bernstein has assigned Moderna a Market Perform rating, while UBS rates the stock Neutral. UBS said it is awaiting Phase III melanoma trial results before changing its view, making those data a stated checkpoint for its rating. Bernstein highlighted the long-term potential of Moderna’s mRNA therapeutics platform.

Moderna also faces ongoing legal pressure. A federal judge in Delaware recently declined to dismiss patent lawsuits filed by Bayer’s Monsanto unit against Moderna, Pfizer, and BioNTech over mRNA technology. With the NIH campaign slated to begin in December, Phase III melanoma data still awaited, and the Delaware patent cases moving forward, Moderna’s cancer program and its legal position both have near-term milestones observers are tracking.

Source: CoinCentral