Moderna and Pfizer companies are expected to seek emergency use permission from the US Food and Drug Administration if another review shows that their vaccines are safe.
The results of encouraging late-stage trials for both Pfizer and Moderna have put a high barrier for competitors from the examples of AstraZeneca Plc, which is expected to soon disclose its research on a new coronavirus vaccine.
There are 6 basic questions to know about the Pfizer and Modrena vaccines, according to a report seen by “Al Arabiya.net.”
How do the results compare?
Moderna said Monday that its vaccine was 94.5% effective in a preliminary analysis, versus 90% effective for Pfizer and BioNTech a week earlier.
What is common between the two vaccines?
Both vaccines are based on a technology called MESSENGER RNA that has not been used before to develop a vaccine based on humans.
This approach aims to turn the body’s own cells into factories for making vaccines, where the vaccines order the cells to make identical copies of the protrusions of the protein surrounding the virus, which stimulates the creation of protective antibodies.
what the difference?
Moderna Company received $ 955 million from the US Wrap speed program, while Pfizer said it did not receive any federal funding to develop its vaccine, while Biontech Company received 375 million euros, equivalent to $ 444 million, from the German government.
Nevertheless, Pfizer concluded an agreement to supply a vaccine with the United States worth nearly two billion dollars, and the US government has also agreed to purchase vaccines worth $ 1.53 billion from Moderna.
What are the storage and distribution challenges?
The Pfizer vaccine should be stored cold for up to a few days before using it, but it can be kept at fridge temperatures for up to five days.
Meanwhile, Moderna pointed to new data showing that its vaccine is stable in refrigerator temperatures for 30 days, and can be kept in freezers for the long term and does not require the special facilities required for the Pfizer vaccine.
Where will the vaccines go first?
Global demand for vaccines is expected to initially exceed supplies, despite great efforts to increase production ahead of time.
Moderna has already reached agreements to supply 100 million doses to the United States and 80 million to the European Union, and the United Kingdom said on Monday that it is negotiating with the company, but any doses will not become available in the country until next spring at the earliest.
Pfizer and BionTech also have special deals for hundreds of millions of doses.
When can they be ready to spread?
The results are preliminary, but both Moderna and Pfizer are expected to seek emergency use permission from the FDA if another review shows that their vaccines are safe.
Moderna said it may seek permission from the organizers in the coming weeks.
News from U.S. drug company Moderna Inc. that its potential COVID-19 vaccine candidate has also been more than 90 per cent effective in clinical trials sent stock markets soaring on Monday, boosting hopes that the global economy may soon fully convalesce and things could get back to normal.
Moderna announced before markets opened on Monday that its vaccine candidate appears to be 94.5 per cent effective, according to preliminary data from the company’s ongoing Phase 3 clinical trial of 30,000 volunteers.
The news echoed a similar announcement exactly one week ago from U.S. pharmaceutical company Pfizer, which sent investors cheering with word that its vaccine candidate appeared to be more than 90 per cent effective.
The news sent Moderna stock soaring eight per cent when stock markets opened on Monday, but it was also a badly needed shot in the arm for the stock market overall.
The Dow Jones Industrial Average gained more than 400 points to close at an all-time high of 28,880. The broader S&P 500 also set a record high above 3,619 points, while in Toronto the S&P/TSX Composite Index gained more than 200 points or 1.3 per cent to close at 16,889.
Industries that have been the hardest hit by the pandemic, including the energy sector and anything to do with travel and tourism, rebounded most. The price of a barrel of oil gained about three per cent to $41.24 US a barrel.
Shares in oil company Suncor gained about five per cent to $19.13, their highest level in a month. Air Canada was up by about four per cent to $20.19 a share around midday. Both companies are still worth less than half of what they were valued at before the pandemic.
ANALYSISOil prices surge on vaccine hopes — and then ebb on pandemic realities
Shares in technology companies that have done very well in the pandemic, meanwhile — such as Amazon, Netflix, and Zoom — sold off.
Even as cases continue to mount in most developed economies, the positive signs around Moderna’s potential vaccine had investors feeling that the pandemic could be closer to its end than to its beginning.
Pfizer expects to have two months of safety monitoring data in the third week of November, and if all goes well, Pfizer can apply for a permit in the United States this month.