One week after Pfizer and BioNTech announced the efficacy of their COVID-19 vaccine, Moderna has done the same, as the world continues to grapple with the coronavirus pandemic.

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The Cambridge, Mass.-based biotech firm said its vaccine, known as mRNA-1273, showed a 94.5% effectiveness rate on the first 95 participants in the trial with confirmed COVID-19 diagnoses.

CEO REACTS

“This is a pivotal moment in the development of our COVID-19 vaccine candidate," said Stéphane Bancel, Moderna CEO in a statement. "Since early January, we have chased this virus with the intent to protect as many people around the world as possible. All along, we have known that each day matters. 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.”

TickerSecurityLastChangeChange %MRNAMODERNA INC.97.28+7.89+8.83%TD Ameritrade Stock Table

PFIZER'S COVID-19 VACCINE: WHAT TO KNOW

EXPERTS WEIGH IN

Dr. Anthony Fauci, the nation's leading infectious disease expert, told the "Today" show it is a "really strong step forward to where we want to be," discussing both the Moderna and Pfizer vaccines.

TRUMP, BIDEN ALSO HIGHLIGHT NEWS

President Trump mentioned the news, noting it happened under his watch.

President-elect Joe Biden said the news of a second vaccine is reason to "feel hopeful."

Here are a few facts to know about Moderna's vaccine, compiled by FOX Business.

FAST FACTS

Cost:

Somewhere around $32 and $37 per dose. On the company's August earnings call, Bancel said pricing for smaller volumes will likely range between $32 and $37 per dose, while larger volumes could be lower.

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Number of doses:

Perhaps as many as 500 million per year.

At a dose level of 100 micrograms (which was given in the Phase 3 trial that started in July), Moderna said it can deliver 500 million doses per year and perhaps as many as 1 billion per year in 2021, as it works with Swiss drugmaker Lonza for its manufacturing needs.

Potential revenue to Moderna:

At least $1 billion.

The U.S. government has previously struck a deal with Moderna for 100 million doses of the vaccine as part of Operation Warp Speed, with an option to buy an additional 400 million doses.

In the company's third-quarter earnings release, Moderna said it had received more than $1.1 billion in deposits for the vaccine from governments around the world.

Timeline:

It's still unknown at this point when the vaccine will be approved by the FDA.

Last month, Bancel said in an interview that Nov. 25 would be the date the company will have enough safety data to put in an emergency use authorization (EUA) request with the FDA.

However, Bancel added that widespread distribution of the vaccine will likely not happen until the spring.

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FOX Business' Suzanne O'Halloran and Fox News' Alexandria Hein contributed to this story.

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https://www.foxbusiness.com/markets/modernas-covid-19-vaccine-what-to-know

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