Moderna and Merck shares soared today after the companies said a personalized mRNA treatment hit its target of preventing skin cancer from recurring or spreading in a late-stage clinical trial.

• The customized therapy, which could see a commercial launch next year, could also be adapted for other cancers of the kidney, bladder and pancreas.

🧪 Driving the news: Moderna's experimental therapy, called intismeran, was tested in combination with Merck's cancer drug Keytruda in more than 1,100 patients with high-risk melanoma that had been surgically removed.

• The combination demonstrated a "clinically meaningful improvement" over treating skin cancer with Keytruda alone.

How it works: The mRNA-based drugs essentially train the immune system to find mutations that cause tumors. That's in contrast to chemotherapy, which damages or destroys cancer cells.

📈 The impact: The full results of the trial will be released at an upcoming medical meeting.

• But Wall Street has already responded enthusiastically, with shares of Moderna surging 177% Wednesday, while Merck shares closed up 12.6%.
• "This is a landmark moment," TD Cowen analysts wrote in an investor note. "We view the result as a significant validation of the ... platform."

🧬 What we're watching: Whether the potential success of an mRNA-based cancer therapy could help lift the bigger cloud hanging over the technology.

• Political backlash following the pandemic — including the Trump administration pulling nearly $500 in million federal funding for mRNA research — raised questions about the field's long-term prospects.

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Target shares jumped after the retailer this morning reported a sharp uptick in grocery sales and online delivery.

• 🌤️ The big picture: Signs of a turnaround are accelerating under its new CEO.

📊 By the numbers: Target posted a comparable store sales increase of 2.7% in the period ended Aug. 1, beating S&P Capital IQ expectations of 2.5%.

• Comparable digital sales grew 8.7% as its same-day delivery service soared 25%.
• The company also raised its revenue and earnings outlook for the full year.

Zoom in: Michael Fiddelke, who took over the top job in February, credited improvements in the company's food and home furnishings sections and benefits from its brand partnerships.

🗣️ What they're saying: "The early stages of the merchandise-led turnaround appear to be working," D.A. Davidson analyst Michael Baker wrote today in a research note.

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🌌 Amazon announced a sixfold expansion of its drone delivery service into nearly 500 additional areas throughout the U.S. (AP)

💳 Stripe is buying AI model marketplace OpenRouter for more than $8 billion, as the payments giant doubles down on AI and signals an IPO remains on indefinite hold. (Axios)

🛠️ Lowe's acknowledged "pressure" on home renovation spending a day after rival Home Depot cited "frozen" conditions in the housing market. (CNBC)

LinkedIn is a professional networking site that, it turns out, can also lead to something more.

State of play: Members are increasingly using the service to find romantic partners, WSJ reports.

• One dating coach told WSJ that she encourages clients to use LinkedIn to reach out to romantic interests — but that the first message should be subtle.

Friction point: LinkedIn says users are looking for love in all the wrong places — using it to find dates is against the rules.

• "Our focus is on making sure that people are safe from unwanted romantic advances," a LinkedIn spokesperson told WSJ.

💭 Nathan's thought bubble: With significant dating app fatigue, it's no wonder that people are looking for alternative ways to find a spark.