Pfizer said Monday that an early peek at data on its coronavirus vaccine suggests the shots may be a surprisingly robust 90% effective at preventing COVID-19, putting the company on track to apply later this month for emergency-use approval from the Food and Drug Administration.
CNBC.com's MacKenzie Sigalos brings you the day's top business news headlines. On today's show, Dr. Kathleen Neuzil from the University of Maryland School of Medicine breaks down the next steps and challenges involved in getting Pfizer's 90% effective vaccine to the broader American population. Plus, after Monday's raucous trading session, CNBC's Kate Rooney dives into which investors were buying the dip in "stay at home" stocks like Zoom and Peloton. Sen. Mitch McConnell responds to Pfizer COVID-19 vaccine. A Vancouver-based biotech company brought its genetic know-how to Pfizer's COVID-19 vaccine development. Thomas Madden, president and CEO of Acuitas Therapeutics, explains his company's contribution to the vaccine effort.
»» The US drug company Pfizer Inc says its experimental COVID-19 vaccine, developed with German firm BioNTech SE, is more than 90 percent effective in late-stage trials.
The news comes as a major victory in the fight against a pandemic that has killed more than a million people, battered the world's economy, and upended daily life.
Pfizer and BioNTech SE are the first drugmakers to release successful data from a large-scale clinical trial of a COVID-19 vaccine.
More than a billion doses could be administered next year.
BioNTech SE admitted they are still waiting on more results to further prove its safety.