Vials with a sticker and a medical syringe are seen in front of a displayed Moderna logo. File/Reuters

Gulf Today Report

There's promising news for the second time this month from US biotech firm Moderna for its COVID-19 vaccine.

Moderna says its shots provide strong protection against the virus.

Dr Stephen Hoge, Moderna’s president, welcomed the "really important milestone” but said having similar results from two different companies is what’s most reassuring.

"That should give us all hope that actually a vaccine is going to be able to stop this pandemic and hopefully get us back to our lives,” Hoge told the media.

"It won’t be Moderna alone that solves this problem. It’s going to require many vaccines” to meet the global demand, he added.

Amid a dash of hope against the grim backdrop of coronavirus surges in the US and around the world, Moderna said its vaccine appears to be 94.5% effective, according to preliminary data from the company’s still ongoing study.

READ MORE

Biden seeks window on vaccine plans, hopes world returns to normal

UAE sees 1,209 new virus cases, 680 recoveries; 4 deaths

Moderna expects to have enough safety data required for US authorisation in the next week or so and the company expects to file for emergency use authorisation (EUA) in the coming weeks.

A nurse prepares a shot that is part of a possible COVID-19 vaccine in Binghamton, New York. AP

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.

A week ago, competitor Pfizer Inc. announced its own COVID-19 vaccine appeared similarly effective — news that puts both companies on track to seek permission within weeks for emergency use in the US.

The company's shares rose 9.1% in premarket trading and 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 fresh record high, while the pan-European STOXX 600 hit late-February highs.