Moderna (NASDAQ:MRNA) stock climbed more than 6% yesterday following promising results from an early-stage trial of its personalized cancer vaccine, developed in partnership with Merck, for a specific type of head and neck cancer. This vaccine aims to prime patients' immune systems to identify and eliminate cancer cells based on their unique mutations.

Previously, the vaccine demonstrated potential in a mid-stage study for treating melanoma. According to Jefferies analysts, these results further endorse the personalized therapy approach and hint at its applicability beyond melanoma. The combination of the vaccine, mRNA-4157, with Keytruda showed a notable improvement in survival rates compared to previous studies where Keytruda was used alone.

The findings, unveiled at the American Association for Cancer Research Annual Meeting in San Diego, indicated that the vaccine combination activated immune responses in patients and was found to be safe and well-tolerated. With a nearly 14% increase in its share price this year, Moderna is looking to diversify its vaccine portfolio, which includes candidates for respiratory syncytial virus and cancer, to compensate for the expected downturn in COVID product sales.