Drugmaker Moderna shot found to be 94.5% effective

Drugmaker Moderna said its vaccine appears to be 94.5% effective, according to preliminary data from the company’s still ongoing study.

A preliminary analysis of data from more than 30,000 volunteers showed Moderna’s vaccine prevented virtually all symptomatic cases of Covid-19, the disease caused by the coronavirus, the company said in a statement on Monday.

Moderna shares rose 12% in pre-market U.S. trading, while in Europe, the Stoxx 600 Index was up 1.4%. The rally in global shares following the news represented about $120 billion in market value added to the MSCI All Country World Index.

"This positive interim analysis from our Phase 3 study has given us the first clinical validation that our vaccine can prevent COVID-19 disease, including severe disease," said Stephane Bancel, Moderna's CEO.

Of 95 people in the study who developed Covid-19 with symptoms so far, 90 had received a placebo and only five Moderna’s vaccine, the company said Monday.

The findings move the vaccine closer to wide use, because they indicate it is effective at preventing disease that causes symptoms, including severe cases.

Moderna is the second company to report preliminary data on an apparently successful vaccine, offering hope in a surging pandemic that has infected more than 53 million people worldwide and killed more than 1.2 million.

Pfizer, in collaboration with BioNTech, was the first, reporting one week ago that its vaccine was more than 90 percent effective.

"The thing that got me the most excited today was the severe disease,” Moderna Chief Executive Officer Stephane Bancel said in an interview. “That for me is a game-changer.”