Coronavirus Live Updates: Vaccine Tests Show Early Promise, Drugmaker Says, Rallying Wall Street

Coronavirus Live Updates: Vaccine Tests Show Early Promise, Drugmaker Says, Rallying Wall Street


Stocks climbed after encouraging data about the first coronavirus vaccine tested in people.

The drug maker Moderna said Monday that the first coronavirus vaccine to be tested in people appears to be safe and able to stimulate an immune response against the virus.

The findings, which quickly prompted a rally on Wall Street, are based on results from the first eight people who each received two doses of the experimental vaccine, starting in March.

Those people, healthy volunteers, made antibodies that were then tested in human cells in the lab, and were able to stop the virus from replicating — the key requirement for an effective vaccine. The levels of those so-called neutralizing antibodies matched the levels found in patients who had recovered after contracting the virus in the community.

Limited data from the early phase, however leaves much uncertainty around the vaccine’s potential success.

If those trials go well, a vaccine could become available for widespread use by the end of this year or early 2021, Dr. Tal Zaks, Moderna’s chief medical officer, said in an interview. How many doses might be ready is not clear, but Dr. Zaks said, “We’re doing our best to make it as many millions as possible.”

Despite the uncertainties, the company’s announcement rapidly encouraged investors, who also welcomed a pledge from Jerome H. Powell, the Federal Reserve chair, that there was “really no limit” to what the central bank could do with its emergency lending facilities.

The S&P 500 rose more than 2 percent on Monday morning, and Moderna’s shares surged more than 20 percent. Stocks in Europe were 3 to 4 percent higher.

Monday’s rally had all the characteristics of one focused on the prospects for a return to normal. Travel stocks, like United Airlines, Expedia Group and Marriott International, were among the best performers in the S&P 500.



Source link

Leave a Reply