Florida and California consolidated their status as epicenters of the U.S. coronavirus crisis, with both states affected by the rise in COVID-19 cases exceeding New York, formerly the national leader in infections.
As the outbreak continues to hamper reopening efforts across the country, the outbreak in the Sun Belt region has been supercharged by Sunshine and Golden States. Growing bets have underscored the increasingly urgent search for an effective coronavirus vaccine, which entered a new phase on Monday when Moderna began a phase 3 human trial, with the help of US government funding. USA
With Congress and the White House debating a new stimulus package scheme expected to cost another $ 1 trillion, the crisis hit close to home as President Donald Trump’s National Security Advisor Robert O’Brien revealed Monday. who tested positive for the virus.
Meanwhile, the director of the World Health Organization, Tedros Adhanom Ghebreyesus, reconvenes an emergency committee later this week to assess the pandemic, the sixth in the organization’s history, and the need to continue the state of public health emergency of the coronavirus outbreak.
“When he declared a public health emergency of international concern on January 30, the highest level of alarm under international law, there were fewer than 100 cases of COVID-19 outside of China and there were no deaths,” Ghebreyesus said Monday during a communication media. instructions.
Now, cases worldwide have exceeded 16 million, a number that doubled in just six weeks, according to WHO data.
Cases are emerging in countries like China and Argentina. (Graphic: David Foster / Yahoo Finance)
Vaccine race heats up
The global vaccine race reached a milestone on Monday, with Moderna (MRNA) entering the third phase of clinical trials, and Johnson & Johnson (JNJ) beginning the first phase for its candidate.
Globally, other candidates are more advanced, including China’s candidates with CanSino and Sinopharm, as well as the United Kingdom with the Oxford University vaccine, in association with AstraZeneca (AZN).
The Moderna trial was fueled by a new round of $ 472 million in federal funding to test the vaccine’s 100-microgram dose in two injections in 30,000 participants. CEO Stéphane Bancel told Yahoo Finance on Monday that the company had considered a Phase 3 of 10,000 people in April, before additional financing.
Currently, federal support for Moderna is now close to $ 1 billion. But the record remains Novavax (NVAX), which received $ 1.6 billion in addition to $ 60 million from the Department of Defense.
The need for a vaccine will dictate the effort of the global economy to return to a certain level of normality, especially as developing countries struggle to combat the outbreak. The need for billions of doses, including manufacturing, transportation and delivery, are imminent obstacles for companies that meet the challenge.
Additionally, the shortage of necessary equipment persists in the U.S., including personal protective equipment, test supplies, as well as household items like disinfectants, wipes, and hand sanitizer.
The United States Food and Drug Administration (FDA) issued a new warning on Monday to highlight that makeshift hand sanitizers find their way onto the market, despite including dangerous chemicals like methanol.
“Methanol is not an acceptable ingredient for hand sanitizers and should not be used because of its toxic effects,” the FDA said in a statement. The regulatory body previously warned against such products in early July.
And with cases springing up in various parts of the U.S., remote work remains the norm across corporate America. On Monday, Google announced that its voluntary return to work program will run until June 30 of next year, according to a memo from CEO Sundar Pichai. The company has already reopened several offices around the world, especially in countries that have successfully reopened.
