Pfizer and BioNTech said Monday that its coronavirus vaccine is more than 90% effective in stopping COVID-19 among those who hadn’t been infected beforehand.

  • The companies said the development is “a great day for science and humanity.”

Details:

The analysis looked at 94 confirmed cases of COVID-19 among the more than 43,000 participants in the vaccine trial.

  • The participants either received two doses of the vaccine or a placebo.
  • The analysis for less than 10% of infections in participants who had been given the vaccine.
  • More than 90% of cases came from those given the placebo.
  • The company said the vaccine protection lasts seven days after the second dose and 28 days after the first dose.
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Key quote:

CEO Dr. Albert Bourla told CNBC: “I think we can see light at the end of the tunnel.”

Why this matters:

The 90% mark is much better than expected.

  • Scientists hoped for the coronavirus vaccine to be at least 75% effective.
  • Dr. Anthony Fauci, a leading infectious disease expert, said a vaccine that is 50% to 60% effective would be good news, too.
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What’s next?

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Pfizer will seek emergency use authorization for the Food and Drug Administration after participants have been monitored for two months after getting the second dose.

  • The Pfizer CEO told CNN the vaccine will be free for all Americans.
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