Moderna said its experimental coronavirus vaccine was nearly 95 percent effective in a pivotal study, adding to hopes that an inoculation for the deadly virus will soon be available.
Monday’s announcement from the biotech company made it the second major vaccine candidate to reveal promising early data from a late-stage clinical trial, just a week after Pfizer and BioNTech said its injection was over 90 percent effectiveness.
Moderna’s vaccine can help ward off severe cases of the virus
Results from the Phase 3 study also indicated that Moderna’s vaccine can help prevent severe cases of the virus, a key advance as the United States faces an unprecedented increase in infections and hospitalizations.
The so-called interim analysis “has given us the first clinical validation that our vaccine can prevent COVID-19 disease, including severe disease,” Moderna CEO Stéphane Bancel said in a statement, calling the results a ” turning point “in the development of the vaccine. .
The announcement sent Moderna’s stock price soaring more than 12 percent in pre-market trading to $ 100.33 at 7:19 a.m.
Moderna said it will ask the US Food and Drug Administration for emergency approval of the shot “in the coming weeks
Massachusetts-based Moderna said it will apply to the US Food and Drug Administration for emergency approval of the injection “in the coming weeks” after it collects more data on the vaccine’s efficacy and safety. Similarly, Pfizer has said it could request an emergency use authorization before the end of the month.
Moderna released the results after an independent safety board examined data from 95 study participants of 30,000 people who contracted COVID-19. Only five of those 95 patients had received both doses of the vaccine before contracting the virus, while the other 90 had received a placebo, the company said.
Moderna’s and Pfizer’s vaccines use messenger RNA
Both Moderna’s and Pfizer’s vaccines use messenger RNA, manufactured genetic material that is injected into cells to elicit an immune response in the body. Dr. Anthony Fauci, the nation’s leading infectious disease expert, said last week that he expected the injections to be similarly effective because they were “identical in many respects.”