WASHINGTON: Moderna Inc and Pfizer Inc launched two 30,000-subject trials of Covid-19 vaccines that could clear the way for regulatory approval and widespread use by the end of this year, the companies said on Monday.
The trials, both announced on Monday, are the first late-stage studies supported by the Trump administration’s effort to speed development of measures against the novel coronavirus, adding to hope that an effective vaccine will help end the pandemic.
Moderna stock rose 9%. Pfizer shares rose 1.6% in afterhours trade and its partner BioNTech, which developed the vaccine, rose 4.2%.
Both vaccine candidates rely on a new technology that allows for faster development and manufacturing than traditional vaccine production methods but does not have an extensive track record.
So-called mRNA, or synthetic messenger RNA (mRNA), teaches the immune system to recognize and neutralize the coronavirus by mimicking its surface.
Moderna, which has never brought a vaccine to market, has received nearly $1 billion from the US government, which is helping bankroll seve