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Yahoo BusinessJan 25, 2021
Dow Jones Futures, Tech Futures Diverge; Stock Market Rally Riding High As Apple, Tesla Lead Earnings Tsunami


MarketWatch MarketPulseJan 25, 2021
Merck to discontinue development of COVID-19 vaccines, focus on two investigational therapies
Merck said Monday it is discontinuing development of its two COVID-19 vaccine candidates following disappointing trial results, and will instead focus on the development of two investigational therapeutic candidates. The decision comes after a review of findings from Phase 1 studies of the vaccine candidates, named V590 and V591, in which immune responses were inferior to those seen following natural infection and in trials of other vaccine candidates. "Merck continues to advance clinical programs and to scale-up manufacturing for two investigational medicines, MK-7110 and MK-4482 (molnupiravir); molnupiravir is being developed in collaboration with Ridgeback Bio," the company said in a statement. The company is expecting to book a charge in the fourth quarter, but did not offer any further details. Merck is still planning to submit the results of the early-stage trial for publication in a peer-reviewed journal. Shares fell 1.2% premarket and are down 6% in the last 12 months, while the S&P 500 has gained 16.6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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