President Trump hopes to get vaccinated before Election Day ModernaOf (NASDAQ: mRNA) The CEO said that the company’s coronavirus vaccine would not be ready until November 3.
Speaking on one financial Times-Organized Biotech and Pharmaceutical Conference, Stefan Banksel stated that “25 November is the time when we will have enough safety data to put in the European Union. [Emergency Use Authorization] The file we will send to the FDA – assuming the safety data is good, that is, a vaccine is considered safe. ”
An Emergency Use Authority is fast-track, limiting FDA approval for drugs or vaccines that can treat or prevent diseases that are a significant enough threat to the population.
Modern has leaped to prominence with its mRNA-1273, considered one of the candidates for the coronovirus vaccine, if not Overall leader. It has done very well in early stage testing and is currently undergoing Phase 3 clinical trials.
With the hope that it would boost his popularity in the election, Trump promoted the idea that a safe and effective vaccine would be on the market in the near future. A great many public health experts and pundits say that next year will be the earliest, though.
Although biotech and pharmaceutical companies are developing a host of vaccine candidates, none have yet finished its clinical trials, and no major regulatory authority has approved any of them.
Investors did not react too much to Bensel’s announcement, as it is possible that some of them were expecting mRNA-1273 to finish testing and approve in the next few weeks. Shares of the company rose on Wednesday after the S&P 500 index did not reach profit on Wednesday.