Weekly Recap: Merck stock rise after Q1 and Keytruda–Padcev approved for MIBC

Merck & Co. (NYSE:MRK) surged near $130 after a breakout as Q1 revenue beat and Keytruda growth bolstered a GAAP loss tied to R&D charges; FDA expanded Keytruda regimens for bladder cancer while takeover chatter and reported >$3B interest in MoonLake fueled market speculation.

Previous Week Recap

• Merck Revenue Growth, GAAP Loss: MRK hit a record near $130 after a base breakout. Q1 GAAP loss $4.2B (includes $9B R&D charge). Q1 revenue $16.3B (+5%); Keytruda +12%. 2026 revenue guide $65.8–67.0B; adj EPS $5.04–5.16.
• Keytruda, Padcev Approved For MIBC: MRK: FDA approved Keytruda (including subcutaneous QLEX) plus Padcev for perioperative use in cisplatin-eligible adults with muscle-invasive bladder cancer, expanding Keytruda regimens in MIBC.
• MRK Eyed Buyouts: MoonLake, Sellas: Merck (MRK) rumored to have eyed buys of Sellas and MoonLake; reports said a nonbinding offer for MoonLake topped $3B, drawing trader attention to MRK takeover talk.

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