Coronavirus: Pfizer vaccine proves highly effective in real-world study, Moderna eyes 2,000% rise in revenue
Moderna is to start the first phase of clinical trials for the version of the vaccine designed to target the South African variant.
Moderna, Inc. (NASDAQ:MRNA) said it expects to make US$18.4bn (£13bn) in revenue this year as governments worldwide have booked millions of doses of its COVID-19 vaccine.
In 2020, total revenue rocketed 93% to US$803mln, mostly due to grants by the US government to speed up the development of the jab.
In fact, research and development expenses were US$1.37bn last year, with net loss standing at US$747mln from US$514mln in 2019.
Meanwhile, the biotech firm is to start the first phase of clinical trials for the version of the vaccine designed to target the South African variant.
In-vitro tests carried out last month showed that the inoculation produced a neutralising effect.
It does what it says on the tin
A study on 1.2mln people in Israel has proven that the COVID-19 vaccine developed by Pfizer (NYSE:PFI) and BioNTech (NASDAQ:BNTX) was highly effective in preventing serious illness and symptoms.
The real-world, peer-reviewed analysis, published in the prestigious New England Journal of Medicine, showed that two doses of the jab reduced symptoms by 94%, hospitalisation by 87% and death by 72%.
“This study in a nationwide mass vaccination setting suggests that the BNT162b2 mRNA vaccine is effective for a wide range of Covid-19–related outcomes, a finding consistent with that of the randomized trial,” the paper said.
In November, the two developers posted late-stage clinical trial results proving that the formulation was 95% effective against the virus.
Shares in Moderna advanced 4% to US$151, BioNTech rose 1% to US$114.81 and Pfizer was flat at US$33.82 in premarket trading.
Dawn N. McCoy is from San Diego and has always been interested in amazing new things and that led her to geekdom. Dawn researches and reports on medical advances. She also enjoys her scooter and Youtube .