As the coronavirus pandemic continues to spread, some of the biggest drug companies are moving closer to finding a vaccine.
Biotech giant Gilead Sciences (GILD - Free Report) is planning to administer its remdesivir drug to patients this month. Remdesivir is an experimental drug that has been used to treat Ebola in the past. The World Health Organization (WHO) believes it may be the best chance to effectively treat COVID-19.
Novavax (NVAX - Free Report) and Moderna (MRNA - Free Report) are also working on vaccines; both companies expect to begin phase 1 studies soon.
Inovio Pharmaceuticals is prepping a DNA-based vaccine for U.S. clinical trials in April, while drugmaker Sanofi (SNY - Free Report) has also recently announced plans to develop a vaccine. It said it will leverage previous work for a SARS pre-clinical vaccine.
Takeda Pharmaceutical Co. (TAK - Free Report) , Regeneron Pharmaceuticals (REGN - Free Report) , & Vir Biotechnology (VIR - Free Report) have all announced development on preclinical treatments, and other large drugmakers like GlaxoSmithKline (GSK - Free Report) and Johnson & Johnson (JNJ - Free Report) are working on vaccines too.
Scientists are hoping to cut the time it takes to develop a vaccine in half and have a viable vaccine by this fall. As of today, more than 183,000 have been confirmed globally, with at least 7,167 deaths, according to John Hopkins University. Here in the U.S., there are at least 4,661 cases and 85 deaths.
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