Moderna leaps 9% in premarket after results show its COVID-19 vaccine is almost 95% effective

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  • Shares in Moderna rose 9% in pre-market trading on Monday after an independent health board said its COVID-19 vaccine is almost 95% effective.
  • Moderna plans to apply for Emergency Use Authorization with the US Food and Drug Administration (FDA) in the coming weeks.
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Moderna’s stock leapt as much as 9% in pre-market trading on Monday after the company announced its vaccine candidate is officially 94.5% effective.

The US drugmaker said it was informed by the Data Safety Monitoring Board that its vaccine, mRNA-1273, has met the statistical criteria required for the study.

The company plans to submit an application for Emergency Use Authorization with the US FDA in the coming weeks on the basis of the final analysis of 151 cases and a median follow-up of more than 2 months.

Pfizer and its German partner BioNTech said last week that their experimental COVID-19 vaccine was over 90% effective in preventing infection.

Developing an effective vaccine against a novel virus in less than a year is an unprecedented feat in medicine.

A third vaccine being developed by Janssen, a subsidiary of Johnson & Johnson, will enter large-scale clinical trials in the UK on Monday. 6,000 British volunteers have signed up to participate in the Phase-3 trial.

Investors are also waiting on progress reports from AstraZeneca, which has partnered with Oxford University.

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