Shares of CanSino Biologics (06185.HK) experienced a dramatic surge during Tuesday's trading session, climbing more than 60% in early deals before paring gains to close the morning up 35.82% at HK$31.70, with turnover reaching HK$1.368 billion.

The sharp rally follows Monday's announcement that Moderna and Merck had reached the primary endpoint in a Phase 3 clinical trial for their mRNA-based melanoma cancer vaccine, marking the world's first clinically validated therapeutic mRNA cancer vaccine and confirming the feasibility and commercial potential of mRNA technology in oncology.

According to a research note from CLSA, the success of the Moderna-Merck collaboration represents a platform-level valuation re-rating, particularly given that Moderna is conducting clinical studies using the same platform across lung, kidney, and bladder cancers.

Analysts point out that CanSino Biologics has positioned itself along a similar technological trajectory. The company's rhabdomyosarcoma program is currently in the investigator-initiated trial (IIT) phase, while its glioma project awaits pre-clinical approval. The company's development roadmap and antigen design are broadly comparable to Moderna's approach.

The key differentiator lies in CanSino's three-component lipid nanoparticle (LNP) delivery system, which analysts suggest offers a superior safety profile compared to conventional formulations and may potentially elicit stronger cellular immune responses.