Just at the beginning of the week, the stock market was once again fuelled by new COVID-19 vaccine news. At the same time, bitcoin (BTC) has eventually extended its gains also. (Updated at 17:49 UTC to add the latest BTC price information).
Moderna Inc., a US-Based pharmaceutical firm, stated that its vaccine was 94.5% effective in a preliminary analysis of a large late-stage clinical trial, compared with 90% in the case of Pfizer and BioNTech SE. Moderna shares rose 12% in pre-market US trading, while in Europe, the Stoxx 600 Index was up 1.4%, as reported by Bloomberg data.
BTC was really sluggish to react to the news, trading at around USD 16,300 before it jumped above USD 16,700 several hours later. At pixel time (5:48 PM UTC), USD 16,713 is up by 5% in a day and 10% in a week. The price surged by 46% in a month and 92% in a year.
Following the Pfizer announcement on November 9, BTC began to turn red following the news, later trimming its losses.
A preceding analysis of data from more than 30,000 volunteers showed Moderna’s vaccine prevented virtually all symptomatic cases of COVID-19. “Preliminary analysis suggests a broadly consistent safety and efficacy profile across all evaluated subgroups,” the company added.
Moderna intends to submit for an Emergency Use Authorization (EUA) with the US Food and Drug Administration in the coming weeks and anticipates having the EUA informed by the final safety and efficacy data (with a median duration of at least two months). Moderna also plans to submit applications for authorizations to global regulatory agencies.
“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,” Stéphane Bancel, CEO of Moderna, was cited as saying in the press release.
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