US biotech firm Moderna announced on Monday its coronavirus vaccine candidate is 94.5% effective.
The company said its study for a successful vaccine enrolled more than 30,000 participants in the US, and its analysis included 95 participants from diverse communities with coronavirus cases.
Moderna said it plans to submit its vaccine for an Emergency Use Authorization (EUA) with the US' Food and Drug Administration in the coming weeks, and expects the EUA to be based on the final analysis of 151 cases and a media follow-up of more than two months.
"This is a pivotal moment in the development of our COVID-19 vaccine candidate," CEO Stephane Bancel said 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," the statement added.
Moderna's vaccine has become the second candidate against COVID-19 with high efficacy rate claims.
Last week, US drugmaker Pfizer and German biotech firm BioNTech announced their coronavirus vaccine candidate was more than 90% effective, although there were concerns about its storage with regard to temperature.
Moderna said in a separate statement that it expects longer shelf life for its COVID-19 vaccine at refrigerated temperatures.
"COVID-19 vaccine candidate remains stable at 2° to 8°C (36° to 46°F), the temperature of a standard home or medical refrigerator, for 30 days," it said in a separate statement.