The era of mRNA cancer treatment has officially arrived. Moderna (MRNA.US) stock has surged dramatically, and leading domestic companies are experiencing significant increases.

Moderna (MRNA.US) and Merck & Co., Inc. (MRK.US) announced that their jointly developed melanoma mRNA cancer vaccine has achieved its primary endpoint in a Phase III clinical trial, becoming the world's first clinically validated mRNA therapeutic cancer vaccine. This confirms the feasibility and commercial value of mRNA technology for cancer treatment. Following the announcement, Moderna's stock experienced an epic surge, closing up 176.97% on the day, which boosted the entire global mRNA biopharmaceutical sector. The valuation system for domestic mRNA technology has undergone a comprehensive reshaping, as local companies with core technologies and first-mover advantages formally enter a value reassessment window. For a long time, cancer vaccines have been viewed as one of the ultimate directions in tumor treatment. However, for many years, this field has remained in the research and exploration stage, with persistent doubts in the market regarding the practical capabilities of mRNA technology for tumor treatment and its commercialization prospects, which has led to prolonged suppression of valuations for related global and domestic companies. The breakthrough success of the Moderna melanoma mRNA vaccine in Phase III clinical trials has completely shattered industry cognitive barriers, providing solid Phase III clinical data for the first time to prove that the path of cancer vaccines is indeed viable. This is not only a victory for one company, but a milestone breakthrough for the entire mRNA industry, clearing the largest market doubts about global mRNA tumor treatment and opening up a trillion-level new growth space, fundamentally reconstructing the valuation logic of capital markets regarding mRNA technology. The technological validation and market explosion overseas directly benefit leading domestic companies deeply engaged in the mRNA sector. According to incomplete statistics, there are currently over 10 domestic companies involved in mRNA drug development, including EVEREST MED (01952) and AKESO (09926). Following the Moderna event, shares of EVEREST MED in the Hong Kong stock market rose nearly 15% before trading on the 20th. EVEREST MED has built an integrated platform of "AI + mRNA," forming a complete industrial chain from antigen design, sequence optimization, and delivery systems to planned production. On the pipeline front, personalized mRNA therapeutic vaccine EVM16 has completed its first human clinical trial. Additionally, over 10 domestic companies are focused on mRNA vaccine development, with counterparts including AIM VACCINE, Walvax Biotechnology, and CanSino Biologics Inc. Among them, AIM VACCINE (06660) is one of the earliest companies in China to mRNA technology and has a self-innovated technology platform validated for industrialization. Its developed mRNA respiratory syncytial virus (RSV) vaccine and mRNA shingles vaccine have received clinical approvals in both China and the United States. Furthermore, in the application materials for its IPO on the NEEQ, AIM has already laid out plans for mRNA solid tumor vaccines, leading in both layout and technological advantages domestically. AIM VACCINE has long been deeply engaged in the core technology underlying mRNA and has established a comprehensive quality management system for mRNA vaccines along with GMP-standard commercial scale production facilities. Vaccines produced on its mRNA technology platform have undergone over ten thousand cases of human clinical validation, confirming the safety and efficacy of this technology platform. AIM has now streamlined the entire life cycle process of mRNA vaccine development and production, allowing for rapid industrialization of mRNA vaccine products following clinical approval, accelerating the commercialization process. Previously, domestic mRNA technology platform companies, represented by AIM VACCINE, have been undervalued for a long time as the sector had not received worldwide clinical validation, leading to their technology value and pipeline value being insufficiently explored by capital markets. Now, Moderna's technological breakthrough has thoroughly validated the correctness and foresight of domestic companies' earlier layout, significantly increasing certainty in the sector. The industry windfall has arrived, with technical barriers fully broken down, coupled with the substantial domestic demand for cancer treatment and policy dividends from the domestic biopharmaceutical substitution. The domestic mRNA cancer vaccine sector is expected to usher in a period of rapid development. In the future, companies with mature technology platforms, clear cancer vaccine pipelines, and abundant industrialization experience will continue to enjoy dual dividends from sector expansion and valuation recovery, leading to dual increases in stock prices and corporate value, and becoming the new growth core in the biopharmaceutical sector.