Moderna cancer vaccine trial costs short sellers ₹52,564 cr as shares rise 177%

US-based Moderna and Merck's shares rose as much as 177% on Wednesday after their experimental personalised cancer vaccine met key goals in a late-stage trial. The rally wiped out an estimated $5.5 billion (nearly ₹52,564 crore) for short sellers betting against the vaccine maker. Notably, Moderna's shares had faced years of pressure as demand for its COVID-19 vaccine declined.