Vaccine Monday: Moderna’s Candidate Proves Effective
Vaccine Trial Shows Shot is 94.5% Effective
Yesterday, Moderna (MRNA) shared that its experimental COVID-19 vaccine proved 94.5% effective in its most recent trial. In the study, which involved 30,000 participants, 95 people developed symptoms of COVID-19. Researchers reported that 90 of those participants had received the placebo, not the real vaccine, showing that the shot is effective at protecting against the virus.
More safety-related data from the study will be released later this month, though the vaccine did show promising signs of being safe as well as effective. If this data proves the shot is safe, Moderna will ask federal health authorities to clear the vaccine by early next month. If this process goes smoothly, Moderna’s vaccine could be ready for distribution before the end of the year.
COVID-19 Cases Spike
COVID-19 cases are surging in many parts of the world. Last Friday, new infections in the US were above 177,224—a new daily record. Hospitalizations are also hitting record highs, though death rates for people contracting the virus are down thanks to new treatment methods.
Many states have recently implemented new mask mandates and restrictions on gatherings to curb the spread of the virus. The state of Wisconsin and the city of Chicago put stay-at-home advisories in place. The state of Vermont banned gatherings of people from different households. Though this next wave of the virus is straining the healthcare system and the economy, vaccine trial results are providing some much-needed good news.
A Light at the End of the Tunnel
In addition to Moderna, other companies are also hard at work developing vaccines. Last week Pfizer (PFE) and BioNTech (BNTX) shared that their COVID-19 vaccine proved 90% effective at protecting trial participants from the virus. The two companies plan to ask the FDA to authorize the shot this month, which could mean it will also be ready for distribution by the end of the year. AstraZeneca (AZN), Johnson& Johnson (JNJ), and Novavax (NVAX) are also developing vaccines, and could share news from their trials soon.
The pandemic is far from over and this wave of cases could prove even more difficult than the first wave. However, positive news from Moderna and other companies are providing hope for the future.
Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.