Cancer Vaccines, Hot Dogs, Nvidia, and More!
Editor’s Note: Well, you know what day it is…
Now let’s get to it!
Moderna’s Skin Cancer Vax Shows Promise
This week, there has been optimistic news for Moderna (NSDQ: MRNA).
If you’ll recall, Moderna was a COVID-era superstar thanks to its vaccine technology. The company was one of the first to bring a vaccine targeting the virus to clinical trials. That was reflected in the vaccine maker’s stock price; in 2021, Moderna shares enjoyed gains of nearly 150%.
However, as fewer people are getting vaccinated against COVID these days, Moderna has largely hit the skids. Its stock dropped by roughly 45% last year.
A large part of the problem is that — unlike other companies that have offered COVID vaccines, such as Pfizer (NYSE: PFE) and Johnson & Johnson (NYSE: JNJ) — Moderna has largely been a one-trick pony. It doesn’t have a portfolio of other treatments, drugs, and even personal care products for generating revenue.
As of now, the COVID shot is still Moderna’s sole commercially available product.
However, this week, the company got a boost after it reported positive data on a three-year trial of an experimental vaccine that it has developed with Merck (NYSE: MRK).
The vaccine targets melanoma, the most deadly form of skin cancer, and is to be used in conjunction with Merck’s Keytruda immunotherapy treatment.
According to the new data, the combination was shown to improve survival rates for melanoma patients. Roughly 75% of patients who took the combination have stayed alive without any indication of their cancer returning after two-and-a-half years.
By comparison, only 55.6% of patients who took only Keytruda were still alive without any cancer symptoms. That means those who take both the drug and the vaccine were nearly 50% less likely to die or have the melanoma return. The combination also lowered the risk of the skin cancer spreading to other parts of the body by more than 60%.
What’s more, the study showed that the combination is effective for a wide range of melanoma sufferers.
“As we look at the three-year updates, what’s really exciting to me is seeing the durability of that data,” Merck’s head of global clinical development of oncology, Marjorie Green, said.
The vaccine is also in trials to test its efficacy against some types of lung cancer, kidney cancer, and bladder cancer.
Costco’s $1.50 Hot Dog Combo Is “Safe”
High food prices have become the norm… but not at Costco (NSDQ: COST).
The company has announced that — despite inflation — it has no plans to hike the price of its $1.50 hot dog combo special. The “meal” includes a quarter-pound sausage on a bun plus a soft drink.
“To clear up some recent media speculation, I also want to confirm that the $1.50 hot dog price is safe,” the warehouse retailer’s new chief financial officer, Gary Millerchip, stressed on a call with analysts.
The company’s former CFO, Richard Galanti, created a media stir when he told Bloomberg that the meal price was “probably safe for a while.” Costco fans didn’t appreciate the use of the word “probably,” spurring rumors that the company was about to raise the price.
That hot dog combo has been one of Costco’s most valuable marketing tools. As its price has remained at $1.50 for nearly 40 years, the company touts it as proof of its commitment to value.
According to former CEO W. Craig Jelinek, the warehouse chain’s co-founder, Jim Sinegal, is adamant at keeping the price of the hot dog deal at $1.50.
“‘We are losing our rear ends,'” Jelinek recalled saying.
“And he said, ‘If you raise the effing hot dog, I will kill you. Figure it out.’ That’s all I really needed.”
However, not everyone can take advantage of the bargain. The hot dog special is available only to Costco warehouse members who pay the annual fee, which starts at $60.
Nvidia Is Carrying the Stock Market
The stock market enjoyed a record month in May. Last month, the S&P 500 had its strongest performance since way back in 2009, rising nearly 5%.
Altogether, the index has delivered returns of more than 11% since the start of 2024.
Those gains can be partly attributed to Nvidia (NSDQ: NVDA). The chipmaker — whose stock rose by 121% in the first five months of the year — accounted for 32% of the S&P 500’s total year-to-date gains.
Take a look:
You will find more infographics at Statista
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