Moderna shares were up more than 10% Friday after the biotech company revealed a new effort to make a treatment for autoimmune disorders and outlined several experimental drug projects that could help it diversify beyond Covid-19 vaccines in coming years.

The company that gained fame for its messenger RNA Covid-19 vaccine is using similar technology to develop treatments for cancers including skin, lung and other tumor types, executives told analysts in a meeting Thursday. The potential new autoimmune treatment uses a cell-based mechanism known as CAR-T.

Moderna shares have more than doubled so far this year on rising optimism that the company can get new medicines approved, including an experimental melanoma vaccine it's co-developing with Merck.