Brazilian Bolsonaro tried after feeling bad; Novavax Gets US Funding for Vaccine

Modern, United States government disagrees over pressure for a vaccine

Modern Therapeutics Laboratory.

Source: Modern Therapeutics

The United States government has invested nearly half a billion dollars and support in the Moderna coronavirus vaccination project. But Reuters learned that the US government and the biotech company have discussed issues such as the testing process and the company’s relative inexperience in human testing.

Phase three of testing for the project was originally supposed to launch on July 10, but was delayed, STAT News reported last week.

A source said Moderna, which never produced an approved vaccine or conducted a large trial, “could be on time if they were more cooperative,” Reuters first reported Monday. Moderna has denied any errors but acknowledged the “differences of opinion” between the company and the government experts involved.

The Department of Health and Human Services, which awarded Moderna $ 483 million in April, said in a statement to Reuters that the collaboration has been positive and that the Moderna vaccine project is the most promising of all current options. –Alex Harring

Herd immunity strategies are questioned after the study of antibodies against coronavirus in Spain

Researchers from Spain and the US have questioned herd immunity strategies after discovering that only 5% of the Spanish population carried antibodies to Covid-19.

To date, more than 251,700 cases of coronavirus have been confirmed in Spain, and the country has the third highest number of deaths in relation to the world’s population, according to Our World in Data.

The prevalence of antibodies in the general population of Spain was “insufficient to provide collective immunity”, the scientists argued, despite the fact that the nation is one of the most affected by the pandemic.

Johns Hopkins University experts estimate that at least 70% of the population would need to be immune to Covid-19 to achieve herd immunity. —Chloe Taylor

Economic activity fell in all states during the first quarter, raising concerns about possible cuts

People wait in line as SF-Marin Food Bank delivers 1,600 bags of food in San Francisco on April 20, 2020. Work permits and layoffs created by coronavirus shelter orders are leading thousands of people to seek assistance. food.

San Francisco Chronicle | Hearst Newspapers via Getty Images

According to government data, economic activity fell in all states in the first three months of the year as the pandemic stopped activity.

No state’s economy grew during the quarter, the data showed, while the U.S. gross domestic product, the nation’s broadest measure of the economy, contracted by 5%.

While financial support was created through the CARES Act, estimates from the Fiscal Policy Center show that states could see a $ 200 billion revenue shortfall in fiscal year 2020. States are currently weighing cuts to Basic services such as education, health care, and public safety result, reports CNBC’s Scott Cohn.

Credit bureaus have also taken note of the changing financial situation. In May, Moody’s Investors Service reduced its outlook for the US state sector to “negative” from “stable” for the first time since the 2008 financial crisis. –Alex Harring

Dow Falls 200 Points As Travel Stocks Fall

The shares opened lower, led by stocks that would directly benefit from an economic recovery, report CNBC’s Fred Imbert and Yun Li. The Dow Jones Industrial Average traded 200 points below, or 0.8%. The S&P 500 fell 0.6% and the Nasdaq Composite fell 0.3%. Melodie Warner

Regeneron Signs $ 450 Million Contract With US Government For His Coronavirus Therapy

Brazilian Bolsonaro tried Covid-19 after feeling bad

Brazilian President Jair Bolsonaro appears on the ramp of the Planalto Palace to greet his followers amid the coronavirus pandemic (COVID-19) at the Planalto Palace on May 15, 2020 in Brasilia.

Andressa Anholete | fake pictures

Brazilian President Jair Bolsonaro was screened for the coronavirus shortly after the presidential palace confirmed to NBC News that he had felt bad and was having a high temperature.

A CNN affiliate in Brazil reported that the right-wing leader tested positive for the virus, but this has not been verified by CNBC or officially confirmed.

Bolsonaro’s test results for Covid-19 are expected around 11 am ET. —Sam Meredith

Novavax Joins Operation Warp Speed

Biotech company Novavax announced that the United States government has awarded it $ 1.6 billion to help accelerate the development and late-stage manufacturing of its coronavirus vaccine, Reuters reported.

It is the largest investment made so far through Operation Warp Speed, the Trump Administration’s effort to accelerate the development and production of drugs and vaccines to help fight the virus. Novavax shares soared more than 35% in pre-market trading on the news.

The federal government has also made investments through Operation Warp Speed ​​in the Johnson & Johnson candidate vaccine, the potential Moderna and AstraZeneca vaccine, which is being developed with the University of Oxford.

Novavax said the award will help fund its phase three trial, which is expected to start in the fall, and help it prepare 100 million doses for distribution as soon as the end of the year if the possible vaccine is safe and effective in humans. . –Will Feuer

Read CNBC’s previous live coverage of coronavirus here: Australia closes the interstate border; California asks interior companies to close