Stocks rallied after Moderna announced positive results from early tests of its vaccine.
Countless companies are racing to develop a COVID-19 vaccine, but Moderna is one of the first to conduct human testing. Moderna said its vaccine “has a high probability to provide protection from COVID-19”, and it now seems likely that a vaccine can eventually be developed.
- Guinea pigs. Over 100 vaccines are being developed globally, but only eight firms have begun testing on human subjects, including Moderna and Pfizer.
- Honorable mentions. Johnson & Johnson, AstraZeneca, and Sanofi are building up their capacity to make millions of doses of their own or their partners’ vaccines.
- Hot commodity. Early projections indicate that the initial supply of vaccines might be thin and doses might not be widely available until well into 2021.
A lot of Americans won’t be comfortable resuming their normal lives until a vaccine for COVID-19 is available, so these studies have major implications for both public health and the economy.
Note: Moderna’s study was extremely small, but the results were encouraging.
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