A new vaccine may be the most effective to fight the coronavirus.
Moderna (NASDAQ: MRNA) just announced initial results from vaccine.
The Moderna vaccine is 94.5% effective in protecting people from Covid-19.
That means the Moderna vaccine could be more effective than the similar vaccine from Pfizer (NYSE: PFE) and BioNTech (NASDAQ: BNTX).
Moderna shares jumped 6%. Meanwhile, Pfizer shares dropped 4% and BioNTech fell 12% on the news.
The stock market views this as a positive development – with the S&P 500 and Dow Jones industrials adding approximately 1% on Monday morning.
Moderna Vaccine: Inside Phase 3 Trial
Moderna is currently conducting a Phase 3 trial with 30,000 people. One-half of the people received Moderna’s vaccine, and the other half received a placebo.
The trial monitors the Covid-19 infection rate for people with the vaccine versus those who got the placebo.
This morning, Moderna reported that 95 people in the study have been infected. 90 of the infected individuals received the vaccine. And only five people who received the placebo were infected.
These early results suggest Moderna’s vaccine is 94.5% effective in protecting against the virus.
The company is waiting for more results before applying for approval. A total of 151 people in the trial must be infected before the Moderna will request approval.
Moderna expects to request approval from the Food & Drug Administration by early December.
Moderna has never developed a commercial vaccine before. And this new drug would be the breakthrough that the world has been waiting for.
The Moderna vaccine may have one major benefit compared with the vaccine from Pfizer and BioNTech.
The Moderna vaccine can be stored at 36 – 46 degrees Fahrenheit. That means that it can be stored in a regular refrigerator. Meanwhile, the competing vaccine from Pfizer must be stored at negative 94 degrees.
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U.S. Government Bets $2.5 Billion
The U.S. government has been backing Moderna. The government has provided total funding of $2.5 billion to help fund the vaccine development.
The federal government has already purchased 100 million vaccines from Moderna. And it has the option to purchase an additional 400 million doses.
Individuals receive two doses of the vaccine. That means the U.S. government has purchased enough to vaccinate 250 million Americans.
Moderna expects to produce 20 million doses for the U.S. market by the end of 2020.
Production next year will grow to 500 million to 1 billion doses.
Health and Human Services Secretary Alex Azar says the vaccine will be widely available to all Americans by June 2021.
Vaccines from Pfizer and Moderna could allow 20 million Americans to be vaccinated by the end of this year.
An effective and safe vaccine is required for a global economic recovery. That’s why stocks are soaring on the news from Pfizer, BioNTech and Moderna.
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