Moderna stock jumps on planned national cancer vaccine effort

Moderna ( MRNA ) stock popped 9% on Friday after the New York Times reported new details about an effort to accelerate cancer vaccine development. Investors saw the mRNA biotech company, in particular, as a beneficiary.

Other pharmaceutical stocks, including Pfizer ( PFE ), BioNTech ( BNTX ), and Merck ( MRK ), also rose.

According to the New York Times, the new initiative is a public-private partnership — similar to the effort that produced COVID-19 vaccines — that involves the National Institutes of Health (NIH), the NIH's nonprofit arm, researchers, pharmaceutical and biotech companies, advocacy groups, other nonprofits, and patients.

Stacey Adam, a senior clinical officer at the NIH's foundation, told the New York Times that she expects the program to launch in December. In 2024, the UK launched a similar program, called the Cancer Vaccine Launch Pad .

Moderna is viewed as a leader in mRNA cancer treatments. The stock soared in August on positive results for a melanoma treatment , developed with Merck.

This story is developing. Check back for updates.