This week in charts: Moderna’s massive stock run

Moderna shares have risen more than 600% in 2026, far outpacing the XBI biotech index fund's 23% gain, after the Phase 3 success in August of intismeran autogene, a melanoma vaccine co-developed with Merck. Analysts say detailed results due at a medical meeting later this month will shape whether the run continues. Separately, Roche has struck five deals with Chinese drugmakers since late August, collectively worth more than $5 billion, spanning obesity candidates and molecular glue drugs.