Moderna Inc’s experimental vaccine was 94.5% effective in preventing COVID-19 based on interim data from a late-stage trial, the company said on Monday, becoming the second US drugmaker to report results that far exceed expectations.
Together with Pfizer Inc’s vaccine, which is also more than 90% effective, and pending more safety data and regulatory review, the United States could have two vaccines authorized for emergency use in December with as many as 60 million doses of vaccine available this year.
Next year, the US government could have access to more than 1 billion doses just from the two vaccine makers, more than needed for the country’s 330 million residents.
The vaccines, both developed with new technology known as messenger RNA (mRNA), represent powerful tools to fight a pandemic that has infected 54 million people worldwide and killed 1.3 million. The news also comes at a time when COVID-19 cases are soaring, hitting new records in the United States and pushing some European countries back into lockdowns.
“We are going to have a vaccine that can stop COVID-19,” Moderna President Stephen Hoge said in a telephone interview.
Moderna’s interim analysis was based on 95 infections among trial participants who received either a placebo or the vaccine. Of those, only five infections occurred in those who received the vaccine, which is administered in two shots 28 days apart.
“Having more than one source of an effective vaccine will increase the global supply and, with luck, help us all to get back to something like normal sometime in 2021,” said Eleanor Riley, professor of immunology and infectious disease at the University of Edinburgh.
Moderna expects to have enough safety data required for US authorization in the next week or so and the company expects to file for emergency use authorization (EUA) in the coming weeks.
The company’s shares, which have more than quadrupled this year, rose 15% in premarket trading while European stocks and Wall Street stock futures jumped on the vaccine update. The benchmark S&P 500 futures rose 1.3%, stopping just short of a new record high, while the pan-European STOXX 600 hit late-February highs.
Shares in Pfizer were down 1.7% in premarket trading while Britain’s AstraZeneca, which has yet to release any results from its late-stage vaccine trials, were 0.7% weaker.
A key advantage of Moderna’s vaccine is that it does not need ultra-cold storage like Pfizer’s, making it easier to distribute. Moderna expects it to be stable at normal fridge temperatures of 2 to 8 degrees Celsius (36 to 48°F) for 30 days and it can be stored for up to 6 months at -20C.
Pfizer’s vaccine must be shipped and stored at -70C, the sort of temperature typical of an Antarctic winter. It can be stored for up to five days at standard refrigerator temperatures or for up to 15 days in a thermal shipping box.
The data from Moderna’s trial involving 30,000 volunteers also showed the vaccine prevented cases of severe COVID-19, a question that still remains with the Pfizer vaccine. Of the 95 cases in Moderna’s trial, 11 were severe and all 11 occurred among volunteers who got the placebo.
Moderna, part of the US government’s Operation Warp Speed program, expects to produce about 20 million doses for the United States this year, millions of which the company has already made and is ready to ship if it gets FDA authorization.
The 95 cases of COVID-19 included several key groups who are at increased risk for severe disease, including 15 cases in adults aged 65 and older and 20 in participants from racially diverse groups.