Summary of the Conference Call Company and Industry - **Company**: Moderna - **Industry**: Oncology and mRNA-based therapeutics Key Points and Arguments 1. **Oncology Portfolio Overview**: Moderna is advancing a diverse oncology portfolio utilizing multiple therapeutic approaches and platform technologies to address various cancer types and stages [5][27] 2. **Individualized Neoantigen Therapy (INT)**: INT is a personalized therapy that identifies patient-specific neoantigens from tumor samples, showing promising results in combination with Keytruda, reducing recurrence risk by 49% and distant metastasis risk by 62% [6][7] 3. **Phase Three Study**: A phase three study in adjuvant melanoma combining INT with Keytruda has completed enrollment, with data expected in 2026 [9] 4. **Expansion of INT Development**: INT is being tested across multiple tumor types, including non-small cell lung cancer and bladder cancer, with various combinations [10] 5. **Off-the-Shelf Cancer Antigen Therapies**: Moderna is developing off-the-shelf therapies like mRNA-4359, which targets shared antigens in cancer cells, aiming for broader applicability across different cancer types [11][12] 6. **T Cell Engagers**: The company is developing T cell engagers that guide immune responses towards cancer cells, addressing tumor heterogeneity and immune dysfunction in advanced cancers [18][19] 7. **Cell Therapy Enhancers**: Moderna is exploring in vivo cell therapies to enhance the efficacy of existing CAR-T therapies, potentially improving outcomes in solid tumors [25][26] 8. **Partnerships**: Moderna has a 50/50 partnership with Merck for INT and collaborates with Immatics for T cell receptor development, leveraging external expertise to enhance their capabilities [60][61] 9. **Future Catalysts**: Key upcoming data releases include the five-year follow-up for INT in 2026 and additional data from ongoing studies in various cancer types [39][40] 10. **Competitive Landscape**: Moderna is monitoring competitors like BioNTech and IO Biotech, assessing their data to inform and de-risk its own development strategies [51][52] Other Important Content 1. **Safety and Tolerability**: The safety profiles of INT and other therapies are encouraging, with low-grade adverse events reported [7][14] 2. **Translational Data Importance**: Translational data from early studies will guide future development and inform the potential clinical benefits of therapies [64] 3. **Diverse Therapeutic Approaches**: Moderna's strategy involves a toolkit approach, tailoring therapies based on cancer stage and patient needs, from preventive to advanced settings [30][31] 4. **Market Opportunities**: The company sees potential in both solid and liquid tumors, with a focus on enhancing immune responses in challenging environments [36][44] 5. **Long-term Vision**: Moderna aims to significantly impact patient lives through its diverse oncology portfolio, leveraging its mRNA platform technology [67]