Johnson and Johnson (NYSE: JNJ) said Thursday it would begin late-stage human trials for its COVID-19 vaccine earlier than scheduled in September, and that phase one trials involving 1,000 people will begin next week.
What happened
New Jersey-based company Chief Scientific Officer Paul Stoffels revealed in a profit call that he had seen solid preclinical data for coronavirus vaccine candidates. He said Johnson & Johnson was “very comfortable” starting Phase 1 testing later this month.
“This represents an acceleration of our [timeline] from our original date in September to the end of July. These studies will establish both the safety and immunogenicity of our vaccine candidate, as well as assess the single dose and the booster dose regimen, “added Stoffels.
The Phase 1 study will take place in Japan, while the pharmaceutical giant plans to conduct Phase 2 tests in the Netherlands, Spain and Germany.
Johnson & Johnson said it is capable of producing between 600 and 900 million doses of the vaccine in 2021 if the trials are successful.
Because it is important
The World Health Organization indicates that there are more than 100 vaccines currently under development for COVID-19, of which 23 are currently in clinical trials, CNBC reported.
Earlier this week, a senior Trump administration official revealed that health officials and drug makers expect production of a vaccine to begin in late summer in the United States.
Modern Inc’s (NASDAQ: MRNA), the vaccine candidate is also slated to begin late-stage human trials later this month, while the Food and Drug Administration is speeding up the tracking of two vaccine candidates. Pfizer Inc (NYSE: PFE) and its German partner BioNTech SE (NASDAQ: BNTX).
Price action
Johnson & Johnson shares traded 0.2% higher at $ 149.60 in the pre-market session on Friday.
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