Pharmaceutical company, Moderna Inc., says its Covid-19 vaccine is 95.5% 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.
What you should know
The European Union finalized a deal to buy up to 300 million doses of the ground-breaking coronavirus vaccine developed by BioNTech and Pfizer.
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.