Moderna Files for Emergency Use Authorization for COVID-19 Vaccine

Moderna announced this week the details of its Phase 3 results and has noted that its COVID-19 vaccine is 94.1% efficacious. This is a slight drop from the 94.5% the company had said on November 16th.

The company also said it would be filing for emergency use authorization (EUA) for the
vaccine.

Moderna is now the second company that will be hopefully providing a vaccine for coronavirus before the year ends.

The company also measured the efficacy of the vaccine against severe cases of COVID-19, and that came in at 100%.

CEO Stéphane Bancel told Yahoo Finance about his reaction to the efficacy and said, “I was almost tap dancing in the house yesterday when I heard.”

According to the data, among the 196 cases reported, 185 were in the placebo group, in which one person died from COVID-19. The distribution of cases reflected the real world, with the elderly and minorities disproportionately affected.

The efficacy against severe disease can help to stop progression from symptom onset to critical care. “If you can stop that whole cascade, that is, I believe, a game-changer,” Bancel said.

The U.S. Food and Drug Administration (FDA) is scheduled for a vaccine advisory committee meeting on December 17, with an EUA anticipated soon after if all goes well.

According to Bancele, Moderna will be ready to ship the vaccines within 24 hours after an authorization.

The company’s market cap soared past $58 billion Monday as Wall Street digested the news.

If authorized, and eventually fully licensed, Moderna’s vaccine would become the first product on the market for the company that has been around for ten years.

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.