MRNA/MRK: ASCO cancer vaccine data does not address pre-treatment imbalances that may be driving result

While updated ASCO data from MRNA/MRK KEYNOTE 942 suggests maintenance of the RFS difference seen last year, it continues to be driven by an unusual difference in distant spread only, against an underperforming control arm. Our latest analysis continues to demonstrate significant differences in key baseline characteristics that leaves us with concerns over the true treatment effect of Moderna’s addon.