“I see your 90% and raise” — Moderna announces coronavirus vaccine with near 95% success rate

Just one week after Pfizer announced a 90% success rate with its Phase 3 trial of a coronavirus vaccine, Moderna has upped the ante. Biotech giant Moderna, long considered a frontrunner in the race to beat COVID-19, announced today that its version of the vaccine has a success rate of nearly 95%. 

Last week’s news from Pfizer fuelled a stock market rally that lifted the SPX500 to a new all-time high and gave European markets their best week since April. This time, investors are anxiously waiting for Wall Street to open, to see if the news will fuel the rally further. In the meantime, Moderna is already looking good, as its stock jumped 18% pre-market.

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It seems that there may be a silver lining to the Covid cloud after all. After Pfizer and Moderna announced their amazing results just one week apart, there is still news to be heard from Johnson and Johnson, AstraZeneca. Merck, Novavax, Glaxosmithkline, Sanofi and others, which are working on vaccines of their own. 

The fight against COVID-19

The coronavirus pandemic is one of the most impactful and significant events in recent history, with more than 1.3 million fatalities around the world so far, and millions of others affected by the disease. The virus has also crippled numerous industries in global markets, including travel and leisure, energy, finance and others. 

Ever since it was clear that the coronavirus is a global pandemic, several biotech and big pharma companies have been racing to produce a viable vaccine. While vaccines usually take years to develop, these companies have spared no expense to expedite the process, announcing promising results at unprecedented speed. 

Pfizer and Moderna are just two of the companies that have announced successful results, but it is safe to assume that more will follow. 

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Healing the world

While these results definitely give the world a reason to be cautiously optimistic, there is still quite a way to go. We still need some time until the vaccines get through the approval pipeline, albeit expedited. Furthermore, the logistics of providing the vaccine to all of the countries of the world are quite staggering, especially when considering the fact that Pfizer’s vaccine needs to be supercooled to -70 degrees centigrade for transport. 

And yet, all of these problems will most likely be solved. Each government will do what it needs to in order to ensure that its citizens get the highly coveted vaccine, and the higher the vaccination rate, the easier it will be to remove lockdown measures and travel restrictions.

While some changes caused by the pandemic, such as the remote work revolution, are here to stay, other aspects of life will return to their pre-COVID-19 state. In a vaccinated world, tourism will once again flourish, causing the heavily impacted travel and leisure segments to recover, and airlines stocks to take off. The world will restart its engines, potentially causing oil markets to regain stability and other sectors, such as finance, to regain some of their lost strength.

It is safe to say that the coronavirus is still here, and that we have not seen the end of it. But with today’s announcement from Moderna, its end now seems a little closer. 

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