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Graybosch cautioned that other experimental cancer drugs showed promise in Phase 2 studies only to disappoint in Phase 3.
Brad Loncar, a biotech investor who runs an exchange-traded fund tracking immuno-oncology companies, told Insider that Moderna made a good decision in focusing on a narrower patient group who had surgery to remove their cancer first. But Loncar added other types of cancer are harder to treat than melanoma, which he called a "low-hanging fruit" for immunotherapies.