Pharmaceutical company, Moderna Inc., says its Covid-19 vaccine is 94.5% effective in treating coronavirus, after preliminary analysis of a large late-stage clinical trial.
Moderna disclosed this today in a report by Bloomberg, as it joins other companies including Pfizer in reporting above 90% effectiveness of a vaccine for the global pandemic.
Bloomberg reports that Moderna’s vaccine comes from testing of 30,000 volunteers and “prevented virtually all symptomatic cases of Covid-19, the disease caused by the coronavirus.
“The thing that got me the most excited today was the severe disease,” Chief Executive Officer, Stephane Bancel said. “That for me is a game-changer.”
Moderna also disclosed that it forecasts emergency authorization based on the test results and also expects to drop the final data later this month.
They have received $955 million from the U.S. Operation Warp Speed program to develop its vaccine, with the US government agreeing to also pay up to $1.53 billion to purchase its vaccines. Pfizer agreed to a deal of up to $2 billion with the US Government for its own vaccine.
Moderna shares were up 12% in the US equity pre-market.
What you should know
Nairametrics reported last week that Pfizer Inc disclosed that its experimental vaccine, which it jointly developed with BioNTech was more than 90% effective in preventing COVID-19, based on initial data from a large study, in the ongoing phase 3 trials.
The European Union finalized a deal to buy up to 300 million doses of the ground-breaking coronavirus vaccine developed by BioNTech and Pfizer.
Related
Where is the us? Europe seems to have bought most of the doses and is going to start giving it. We need to get moving