Moderna Inc. said on Thursday its COVID-19 shot was about 93 per cent effective through six months after the second dose, showing hardly any change from the 94 per cent efficacy reported in its original clinical trial.
However, it said it still expects booster shots to be necessary ahead of the winter season as antibody levels are expected to wane. It and rival Pfizer Inc and BioNTech SE have been advocating a third shot to maintain a high level of protection against COVID-19.
During a second-quarter earnings call, Moderna CEO Stephane Bancel said that the company would not produce more than the 800 million to 1 billion doses of the vaccine that it has targeted this year.
White House says U.S. prepared to provide COVID-19 boosters if needed
“We are now capacity constrained for 2021, and we are not taking any more orders for 2021 delivery,” he said.
Moderna shares fell 3.6 per cent to around $403.87 in pre-market trading after closing at $419.05 on Wednesday.
The Moderna data compares favorably to that released by Pfizer and BioNTech last week in which they said their vaccine’s efficacy waned around six per cent every two months, declining to around 84 per cent six months after the second shot.
Both the Moderna and Pfizer-BioNTech vaccines are based on messenger RNA (mRNA) technology.
“Our COVID-19 vaccine is showing durable efficacy of 93 per cent through six months, but recognize that the Delta variant is a significant new threat so we must remain vigilant,” Bancel said.
The comment comes as public health officials across the world debate whether additional doses are safe, effective and necessary even as they grapple with the fast-spreading Delta variant of the coronavirus.
Meanwhile, Pfizer is planning to seek authorization for a third shot later this month, and some countries like Israel have begun or plan to start administering a booster shot to older or vulnerable people.
Separately, Moderna said its studies of three different booster candidates induced robust antibody responses against variants, including the Gamma, Beta and Delta variants.
It said neutralizing antibody levels following the boost approached those observed after the second shot.
For this year, Moderna has signed vaccine contracts worth $20 billion in sales. It has agreements for $12 billion in 2022, with options for another roughly $8 billion in sales and expects to produce between 2 billion and 3 billion doses next year.
The company, however, has not been able to keep pace with the much larger Pfizer, which expects to manufacture as many as 3 billion doses this year and 2021 sales to top $33.5 billion.
Moderna’s vaccine was authorized for emergency use in adults in the United States in December and has since been cleared for emergency or conditional use in adults in more than 50 countries.
The company expects to finish its submission for full approval with the U.S. Food and Drug Administration this month.
It posted second-quarter sales of $4.4 billion, slightly above expectations of $4.2 billion drawn from 10 analysts polled by Refinitiv. Its COVID-19 shot is the firm’s first authorized product and sales were just $67 million a year earlier.
Moderna earned $2.78 billion, or $6.46 a share, beating quarterly expectations of $5.96 a share.
(Reporting by Michael Erman in New Jersey and Manas Mishra in Bengaluru; editing by Kirsten Donovan, Edwina Gibbs and Arun Koyyur)
© 2021 Reuters
Oil Prices Jump As Crude, Fuel Inventories Continue To Fall – OilPrice.com
The American Petroleum Institute (API) on Tuesday reported a draw in crude oil inventories of 6.108 million barrels for the week ending September 17.
It exceeded the analyst expectations who had estimated a loss of 2.400 million barrels for the week.
In the previous week, the API reported a draw in oil inventories of 5.437 million barrels—a larger loss than the 3.903 million barrel draw that analysts had predicted.
Oil prices rose on Tuesday leading up to the data release, with U.S. crude oil inventories falling weekly, OPEC+ production that is not as strong as the market had anticipated, and depressed oil production in the United States as a result of the aftermath of Hurricane Ida.
WTI rose 0.31% on Tuesday afternoon leading up to the data release.
Oil inventories in the United States have drawn down considerably so far in 2021, shedding more than 76 million barrels according to API data, and below pre-pandemic levels. Meanwhile, the EIA’s latest data suggests that crude oil inventories in the United States are now 7% under the five-year average for this time of year, at 417.4 million barrels.
Most recently, U.S. oil production has been down more than a million bpd over the last couple of weeks, sitting at just 10.1 million bpd for week ending September 10 as Hurricane Ida continued to shut in oil producers in the Gulf of Mexico. 16.64% of GoM oil production is still shut in today, according to the BSEE.
The API reported a draw in gasoline inventories of 432,000 barrels for the week ending September 17—compared to the previous week’s 2.761-barrel draw.
Distillate stocks saw a decrease in inventories this week of 2.720 million barrels for the week, compared to last week’s 2.888-million-barrel decrease.
Cushing inventories fell this week by 1.748 million barrels after last week’s 1.345-million-barrel decrease.
By Julianne Geiger for Oilprice.com
More Top Reads From Oilprice.com:
Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group.
B.C. preparing to offer COVID-19 vaccine to 6- to 11-year-olds once approved – Globalnews.ca
British Columbia is “actively preparing” to provide the Pfizer COVID-19 vaccine to children aged six to 11, if and when it receives Health Canada approval.
Provincial health officer Dr. Bonnie Henry said Tuesday there is optimism around approvals as phase two and phase three studies are finishing up.
The information from the studies will be part of data package being submitted over the next few weeks on how well the vaccines work and how safe they are, Henry said.
Study finds Pfizer vaccine safe and effective for children 5 to 11 years-old
“I think that’s very good news,” she told a news conference.
“That gives us just one more tool to be able to protect younger children against this virus.”
But she was reluctant to put a timeline on when children may be eligible for the shot. In previous statements, Henry has pointed anywhere from the fall to the end of 2021.
On Monday, Pfizer said its research shows its product works for children aged five to 11 and that it will seek U.S. authorization for this age group soon.
But Henry said Tuesday they are looking at children between six and 11 being eligible.
Pfizer says their vaccine works for children 5-11
Health Canada has said several studies on children are underway by various vaccine makers, and that it expects them to provide data in the next few months.
Pfizer studied a lower dose of its two-dose vaccine in more than 2,200 kindergartners and elementary school-aged kids, mostly in the United States and Europe.
Preparing the vaccine at a lower dose could have some logistical challenges, however.
“We do know that there may be some delays before the manufacturing process,” Henry said.
“This means the vaccine will be available to children in B.C., but we are preparing so that we’re ready to offer it and we have all of the information that parents will need to make those decisions about whether their children should be immunized, and I think this will be very important, especially as we are into the school year again.”
– with files from the Canadian Press
© 2021 Global News, a division of Corus Entertainment Inc.
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