Daily close, T-120 (12/27/24) through T+5. Run-up high $101.02 on 1/14/25, low $73.47 on 5/15/25 (T-120 to T-1). FDA decision 6/13/25. Historical price action, not a forecast.
Positioning before the decision
On May 30, 2025, 14 days before the decision date, at-the-money options priced a move of ±6.9% through Jun 20, 2025 (the first listed expiry after the decision; ATM implied volatility 36%). The stock closed -0.1% at the first close across the decision and -2.4% five trading days on. A straddle priced weeks out covers ordinary movement plus the event, so this is the move the options market priced through that expiry, not the event-implied move alone. How this compares across 1,000+ decisions.
Was KEYTRUDA (pembrolizumab) - (KEYNOTE-689) approved by the FDA?
Yes. The FDA approved the application for KEYTRUDA (pembrolizumab) - (KEYNOTE-689) on June 13, 2025. The primary source is linked on this page.
What was KEYTRUDA (pembrolizumab) - (KEYNOTE-689) under FDA review for?
The application covered Head and Neck Squamous Cell Carcinoma. The FDA approved the application on June 13, 2025.
How did MRK stock react to the FDA decision?
On the decision day MRK moved -0.1%. That is the recorded reaction to this specific event -- historical measurement, not a prediction, and not investment advice.