There is nothing to see here yet other than their stock popped 50%. Based on unpublished data...

- The initial 49% number comes from a very small phase 2 trial that had only 157 patients. And their original p-value was 0.053

- This phase 3 news so far is nothing more than a press release. They have not published hazard ratio, or confidence interval, their event counts or survival curves.

- They met the endppoint as used in the press release means nothing, until they publish the actual 3 data, so my money is at the end this will be a kind of marginal effect that researchers will struggle to reproduce for years

This is the type of study that will take 3 to 4 years to validate or dismiss, in the meanwhile stock is up 50%....

Gift link: https://www.wsj.com/health/pharma/moderna-merck-vaccine-succ...

The news here is significant and this took decades of studies and research to validate this.

Well done to Merck and Moderna.