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A cancer vaccine had success in trials... N/A August 20, 2026 View Online | Sign Up | Shop Presented By Hold our spot. Not content to simply spend their weekends waiting in lines for pastries that have gone viral on TikTok, New Yorkers are now bringing that energy to a less trendy pastime: buying movie tickets. Business Insider reports that the line at one Manhattan cinema to snag tickets to see Dune: Part 3 in 70-millimeter IMAX format when it opens in December stretched 1,500 feet. They’re one enormous bed sheet away from honoring Shai Hulud with an epic group costume. —Dave Lozo, Molly Liebergall, Matty Merritt, Abby Rubenstein In today’s newsletter, we’ll get into: A promising cancer vaccine The Treasury Department boosting the bond market Why Jason Kelce is asking for your pee Markets Nasdaq 26,331.09 +0.16% S&P 7,707.98 +0.21% Dow 53,463.05 +0.22% 10-Year 4.653% -5.0 bps Bitcoin $69,632.5 +7.86% Marvell $237.27 +9.85% Data is provided by *Stock data as of market close, cryptocurrency data as of 6:00pm ET. Here's what these numbers mean. Markets: Stocks snapped their three-day losing streak like a graham cracker being prepared for s’mores yesterday, after the Treasury Department moved to shore up the bond market (more on that below). Moderna was the day’s biggest winner (we’ll get to that below too). Marvell also jumped on the news of a deal that would let Google buy up to $12.2 billion in shares of the chipmaker. Markets Sponsored by Doroni Keep this stock on your watchlist: Doroni just reserved the Nasdaq ticker $DRNI and raised $40m+ from 12,000+ investors. Join them. Invest today at $3.30/share. MRNA BREAKTHROUGH We’re one step closer to a cancer vaccine Niv Bavarsky Moderna and Merck announced a breakthrough in late-stage trials of their jointly developed, personalized cancer vaccine yesterday, giving hope to melanoma patients living in fear of a recurrence and sending each company’s stock soaring. The announcement pushed Moderna’s stock up 177% to $174 as of yesterday’s closing bell. It’s a shot (get it?) of good news for a company that has seen sales dwindle since it created an mRNA Covid-19 vaccine at warp speed under the direction of President Trump nearly six years ago. Meanwhile, Merck’s shares jumped 13%. How the vaccine/drug combo works In the trials, the mRNA injection coupled with Merck’s immunotherapy medication Keytruda gave patients a longer window before their melanoma returned after surgery. It also reduced the risk of the cancer spreading to other parts of the body. But the bespoke nature of the treatment—as opposed to a one-size-fits-all approach—makes it expensive to produce: After removing a melanoma tumor, scientists used a biopsy and blood sample to create a genetic profile of the cancer. They found unique mutations likely to attack the immune system, encoded them into an mRNA, and created a vaccine that worked with Keytruda to keep the cancer in remission. Big potential: Moderna and Merck are studying the treatment’s effect on other tumors, including lung cancer, bladder cancer, and renal cell carcinoma. The positive results come as mRNA vaccines need a boost. Last year, Health Secretary Robert F. Kennedy Jr. canceled 22 government mRNA vaccine development contracts worth $500 million, arguing that “broader vaccine platforms” are more effective. Looking ahead…The test results have yet to be independently reviewed—the drugmakers plan to present the data at an upcoming international medical meeting. Dr. Dean Li, president of Merck Research Laboratories, told CNBC the companies will speak to regulatory agencies “in the next few months.” Moderna CEO Stéphane Bancel hopes to have the treatment available by 2027.—DL        Sponsored By Doroni The flying car company soaring toward Wall Street But the real opportunity is now, before Doroni takes to the skies and hits the big stage. They just unveiled the showroom model of their flying car after nearly a decade of R&D. It’s great timing, with the urban air mobility market worth $4b today. By 2040, Morgan Stanley puts it at $1 trillion. By 2050, $9 trillion. And with 600+ reservations for Doroni’s H1-X personal aircraft and $240m+ in potential revenue, the interest for this innovation is undeniable. Earlier this year, they reserved the Nasdaq ticker $DRNI. Now, they’re targeting commercial deliveries for 2028, with $1.4b+ in annual revenue projected by 2032. Invest in Doroni at $3.30/share today. World Tour de headlines lastair Pike / Getty Images 💵 The Treasury Department steps in to support the bond market. In a surprise announcement yesterday, the Treasury Department said it would step up its plans to repurchase government debt, sending bond yields down sharply a day after 30-year bond yields reached their highest level in 19 years. Remember: bond yields and bond prices move in opposite directions, and investors worried about inflation were selling off bonds. The department’s decision to increase the buybacks “by at least double” this quarter was seen as Treasury Secretary Scott Bessent’s reaction to recent high yields—which can increase the cost not just of government borrowing but also mortgages and other consumer loans. But while the market reaction was swift, it remains to be seen if the relief will be long-lasting. 💰 US national debt surpasses $40 trillion. Gross US government debt hit $40.047 trillion on Tuesday, the Treasury Department disclosed yesterday, reaching a symbolic milestone after years of escalating budget deficits. That’s up from $19.4 trillion a decade ago. Much of the current figure represents interest to investors who purchased US debt, but the US is also still borrowing heavily to cover expenses, including the war in Iran—it’s expected to borrow $2+ trillion this year alone, per the New York Times. 📦 Amazon plans drone delivery for 500 US cities and towns. The next overpriced moisturizer you impulse buy with one click at 3am might be delivered by drone, as Amazon plans to dramatically enlarge its Prime Air drone delivery service by the end of the year. The drones can deliver packages weighing less than 5 pounds within 30 minutes of the order being placed. It’s not necessarily about avoiding the cost of trucks and drivers (at least not yet) as the drones can only carry one package at a time, but Amazon hopes the speedy delivery adds convenience for shoppers, giving it a competitive edge. Launches are expected soon in the Chicago, Cleveland, Atlanta, Boise, and Syracuse areas, with more to come later.—AR BEEP BOOP BACKFLIP Dancing robot company pops 460% in Shanghai IPO Kevin Frayer/Getty Images To put it in terms familiar to anyone who’s seen clips of these humanoids, shares of China’s Unitree Robotics did more than a quadruple backflip yesterday in its stock market debut. It’s a blowout showing from a company whose bots have attracted viral attention over the past year (see: Unitree robots doing synchronized kung fu, surviving martial-arts kicks, and mouthing off as the TikTok star Rizzbot): Shares of Unitree surged nearly 630% in China, before closing up 460%. The company raised $900 million in its debut. Strategic investors included Chinese AI startup DeepSeek, a group associated with tech giant Tencent, and several state-owned utility companies. The IPO valued Unitree at ~$9 billion. That’s more than 200x its earnings last year. This is the first humanoid company to go public in mainland China, and demand was overwhelming. Retail traders were 5,000x oversubscribed, as China’s world-leading humanoid market is predicted to balloon from $2 billion this year to $15 billion by 2030, per Morgan Stanley. Zoom out: Unitree is the second major Chinese company in a month to list its shares in Shanghai rather than the US, underscoring China’s efforts to keep its tech players domestic and away from Silicon Valley.—ML        Reader Poll Would you invest in a humanoid robot company? Yes, they’re the future. No, they creep me out. Maybe, but I’d need more info on the specific company. Sponsored By PwC A new frontier. As the market evolves, conversations around models, governance, and competitive advantage are becoming increasingly important. That’s why PwC COO of Advisory Jenny Koehler joined Morning Brew to discuss the next frontier in model strategy, moving beyond pilots (finally), and lessons from PwC’s own AI transformation. Read on. get the bubble mailer Jason Kelce says data centers need your pee Screenshot via @liquiddeath2793/YouTube The data suggest you probably aren’t a fan of data centers, but would you pee on one? A new viral ad from drinkmakers Liquid Death and Garage Beer cheekily encouraged people to pee into a jar and send it to the AI data center of their choice to replace the nearly 5 million gallons of water a day it reportedly takes to cool a large data center. Jason Kelce, who co-owns the beer company with his brother Travis, singing “Let’s pee on computers together and save humanity” as he leads a group through a field (you can watch it here) is a pretty standard commercial for both beverage brands with a history of outrageous marketing stunts. But the issue at the heart of the ad is a serious one: Americans hate data centers: 71% of people in a recent Gallup poll said they opposed new AI data centers in their area—with about half of all respondents saying they were “strongly” against it. It’s a rare bipartisan issue that Americans largely agree on—something the brands are hoping to cash in on. But there’s marketing on the other side, too. Companies like Meta and OpenAI are scrambling to combat anti-AI data center sentiment across the country by holding taco-bar-filled open houses, launching billion-dollar community grants, and promising to create jobs for locals.—MM        MOLLY EXPLAINS THE INTERNET Her name is Chanty Beluga Screenshots via @chantybeluga/TikTok The online world can be a beautiful yet confusing series of tubes. On Thursdays, the Brew’s Molly Liebergall untangles them for you. Chronically online people have anointed a new leader whose entire bit is: What if there were a woman named Chanty Beluga? Comedian Courtney O’Donnell has garnered millions of views since late July with videos of herself as this character doing mundane activities, like introducing herself at a pool party. Power of a cult following: Chanty Beluga is both viral and niche enough to emerge as an irreverent meme culture litmus test that businesses want to pass: MTV, Wikipedia, Pop Tarts, and Grindr are in Chanty’s comment section. The MLB name-dropped her on X. Ian Charms, a jewelry brand worn by Justin Bieber, made bracelets for her. Maybe this is happening because of the mouthfeel of “Chanty Beluga,” the character’s dumb-fun simplicity, or the internet’s rejection of relatability culture, O’Donnell told Rolling Stone. Some say Chanty discourse could fade quicker than it appeared, but regardless, the character helped O’Donnell sell out an upcoming solo show in New York City.—ML Sponsored By GolfWRX The winning club. Looking for new irons? Thousands of GolfWRX members voted on the models they trust most. Check out the 2026 winners, find the right fit for your game, and shop the top-rated irons. See the winners here. News What else is brewing Minutes from the Fed’s meeting last month show that “many participants” believed an interest rate increase would become necessary if inflation doesn’t decline. However, officials considered the outlook for inflation “highly uncertain.” The United Arab Emirates said it’s cutting off trade with Iran “until further notice” after discovering two Iranian missiles were fired toward its territory, potentially cutting off a key economic lifeline for Iran as its ceasefire with the US breaks down. Later, President Trump threatened Iran on Truth Social with “Economic Warfare and Isolation on an unprecedented scale.” President Trump has selected Dr. Heidi Overton, a top White House aide, to head up the Food and Drug Administration. Target said its turnaround is working, as the retailer raised its outlook for the year, thanks to both strong sales and a $994 million tariff refund. OpenAI’s CFO told its employees yesterday that the ChatGPT-maker “will be a public company in 2027,” or even sooner. Prince Harry and Meghan Markle are moving their family back to the UK six years after stepping back from royal duties and decamping to California. Scammers are impersonating famous podcast hosts like Amy Poehler, Terry Gross, and Nikki Glaser to target Hollywood types. recs Get your nostalgia fix with internet history roulette. The workout Tom Holland does that you can do too (no gym equipment needed). How different genres of books impact your brain. A durable bag for lugging all your stuff.** Points for an $11 matcha but not your $3k mortgage? Bilt lets you earn on those monthly payments (including rent) and redeem points for things like top hotels and airlines.* *A message from our sponsor. **This is a product recommendation from our writers. When you buy through this link, Morning Brew may earn a commission. Play Brew Mini: Today’s little puzzle is called “Marshalls” and, yes, it refers to that Marshalls. Play the Mini here. Three Headlines and a Lie Three of these headlines are real and one is faker than a popcornless trip to the movies. Can you spot the odd one out? US Army battalion reportedly giving soldiers time off to play GTA 6 in exchange for reenlisting How this Massachusetts sanctuary takes in hundreds of guinea pigs from across the US Kentucky middle school sends students home on first day of class with AI-generated educational materials full of inexcusable hallucinations, including a map labeled with “North Dahota” and “Olkchoma” Hollywood assistants compete in first-of-its-kind games to prove who can parallel park the smoothest, score difficult reservations quickly, and stall famous people the longest Share the Brew Share the Brew, watch your referral count climb, and unlock brag-worthy swag. Your friends get smarter. You get rewarded. Win-win. Your referral count: 0 Click to Share Or copy & paste your referral link to others: morningbrew.com/r/?kid=1a7b2404 Answer We made up the one about the competition for assistants. Word of the Day Today’s Word of the Day is: mouthfeel, meaning “the sensation created by food or drink in the mouth.” Thanks to James from New Jersey for a suggestion we can sink our teeth into. Submit another Word of the Day here. ✢ A Note From Doroni This is a paid advertisement for Doroni’s Regulation A offering. Please read the offering circular at invest.doroni.io. Written by Abigail Rubenstein, Dave Lozo, Molly Liebergall, and Matty Merritt Was this email forwarded to you? Sign up here. Get smarter in just 5 minutes Tech & AI News: Tech Brew Markets News: Brew Markets Real Estate News: The Playbook Money & Career: Bossy Take The Brew to work Marketing Brew CFO Brew HR Brew Revenue Brew IT Brew Retail Brew Healthcare Brew Founder Brew Interested in podcasts? Check out ours here. ADVERTISE//CAREERS//SHOP//FAQ Update your email preferences or unsubscribe here. View our privacy policy here. Copyright © 2026 Morning Brew Inc. 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