Moderna (NASDAQ:MRNA) announced on Monday the results from phase 3 trials for the COVID-19 vaccine show the vaccine is 94.5% effective. This comes just one week after Pfizer (NYSE:PFE) and BioNTech's (NASDAQ:BNTX) vaccine candidate showed a 90% efficacy rate.
The Findings: Moderna based its data on 95 participants with confirmed cases of COVID-19. Findings showed 90 cases of COVID-19 were observed in the placebo group versus 5 cases observed in the mRNA-1273 group, resulting in a point estimate of vaccine efficacy of 94.5%.
In two weeks after the second dose of the vaccine, the researchers report that the vaccine has an efficacy of 94.5%.
Special Storage: The vaccine is expected to remain stable at standard refrigerator temperatures of 2° to 8°C (36° to 46°F) for 30 days, up from the previous estimate of seven days. No dilution required prior to vaccination.
Next Step: Moderna now intends to submit for an Emergency Use Authorization (EUA) with the U.S. Food and Drug Administration in the coming weeks and anticipates having the EUA informed by the final safety and efficacy data (with a median duration of at least two months).
Moderna also plans to submit applications for authorizations to global regulatory agencies.
"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."
MRNA Price Action: Moderna shares were trading up 15.6% at $103.04 at the time of publication. The stock has a 52-week high of $95.21 and a 52-week low of $17.68.