Moderna (MRNA) stock popped 14% on Friday, reaching its highest level since January 2022, after the New York Times reported new details about an effort to accelerate cancer vaccine development. Investors saw the mRNA biotech company, in particular, as a beneficiary.

Biotech stocks, including Pfizer (PFE), BioNTech (BNTX), and Merck (MRK), rallied on the news. Novavax (NVAX) shares surged 15%.