Why Personalis Shares Are Trading Higher Today

  • Personalis Inc PSNL and Moderna Inc MRNA have signed a new agreement to continue using the Personalis NeXT Platform as part of upcoming clinical studies of mRNA-4157/V940, an investigational personalized cancer vaccine, jointly developed by Moderna and Merck & Co Inc MRK.
  • The platform, also utilized in the vaccine candidate's Phase 2b study, will be used to sequence genomic information from a patient's tumor sample to identify the unique genetic mutations that are most likely to generate a tailored antitumor response.
  • In January, Personalis approved a reduction in its workforce by up to approximately 30% to reduce operating costs and improve operating efficiency. 
  • The company estimates that it will incur charges of approximately $3 million for severance payments and employee benefits, primarily in the first quarter of 2023
  • Price Action: PSNL shares are up 26.80% at $3.86 on the last check Friday.
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