Moderna saw its stock price soar 5.12% in pre-market trading, continuing its strong momentum from the previous session. The surge is driven by positive clinical trial results for Moderna's experimental skin cancer vaccine developed in collaboration with Merck & Co. The Phase 2b study showed that adding Moderna's intismeran autogene to KEYTRUDA significantly reduced the risk of recurrence or death in melanoma patients, with sustained benefits over five years.

Additionally, Bernstein raised Moderna's target price to $35 from $25, reflecting increased confidence in the company's growth trajectory. These developments have fueled investor optimism, leading to the stock's pre-market rally.