On August 5th, Moderna Inc (MRNA.O) revealed its vaccine to be 93% effective within six months after the second dose, displaying little change from the initial clinical trial which reported 94% efficacy.
Despite the high efficiency, they also added that booster shots are still essential in the future due to the decline in antibody levels by the upcoming winter season. Moderna Inc and other companies such as Pfizer Inc and BioNTech SE also promote the third shot to secure and maintain high protection against Covid’19 infections.
Stephane Bancel, the CEO of Moderna announced that the company would not provide more than 800 million to 1 billion doses of the vaccine this year due to capacity limitations.
On Wednesday, Moderna’s shares observed a drop of 3.6% to nearly $403.87 in pre-market trading after closing at $419.05.
In comparison to other data released by companies, Moderna’s efficiency stems higher than Pfizer and BioNTech, which reported a decline in their vaccine efficiency of about 6% every two months vaccine’s efficacy, making it a 86% loss in efficiency in six months.
Moderna and Pfizer-BioNTech vaccines are made by messenger RNA (mRNA) technology.
Regardless of the positivity, health officials have warned people to vigilant with the detection of the Delta variant, which is reported to be much dangerous and transmissible.
Companies have initiated further authorizations such as Pfizer seeking approval for a third vaccine dose and few countries have already started giving booster shots to the older community like Israel.
The competitors of Booster shots, Moderna has stated it has three separate booster shot candidates with antibody responses against variants such as the Gamma, Beta, and Delta.
Companies aim to neutralize antibody levels through the booster shots after the second dose to maintain high levels of protection.
In 2021, Moderna has approved vaccine contracts meriting $20 billion in sales. It has contracts for $12 billion in 2022, with prospects for another about $8 billion in sales, and suspects to deliver two billion to three billion doses next year.
However, Pfizer, its rival is estimating to manufacture approximately 3 billion doses this year and 2021 sales to exceed $33.5 billion. It also
anticipates completing its submission for full permission with the U.S. Food and Drug Administration by August.
10 analysts by Refinitiv report that Pfizer made second-quarter sales of $4.4 billion, even though it was expected to make $4.2 billion. Pfizer is also the first company to receive its approval for the first round of shots.
Moderna grossed $2.78 billion, about $6.46 a share, surpassing quarterly estimations of $5.96 a share.