For the second Monday in a row, a pharmaceutical giant has announced advances in finding a COVID-19 vaccine.
U.S.-based Moderna said Monday morning that its “vaccine candidate” had a 94.5 per cent success rate after phase three of the testing process.
A week ago, its U.S. competitor Pfizer announced its own COVID-19 vaccine also appeared effective, with a 90 per cent success rate.
Both companies are on track to seek permission before the end of the year for emergency use in the U.S.
“This is a pivotal moment in the development of our COVID-19 vaccine candidate,” said Stéphane Bancel, CEO of Moderna.
“Since early January, we have chased this virus with the intent to protect as many people around the world as possible.
“All along, we have known that each day matters. This positive interim analysis from our Phase 3 study has given us the first clinical validation that our vaccine can prevent COVID-19 disease, including severe disease.”
Moderna forecasts having about 20 million doses, earmarked for the U.S., by the end of 2020.
Pfizer and its German partner BioNTech expect to have about 50 million doses globally by year end.
Canada has ordered up to 56 million doses from Moderna, with a firm commitment on 20 million. That's enough to vaccinate 10 million people.
The federal government has an option for 36 million more doses, enough to vaccinate another 18 million.