JPMorgan analyst Cory Kasimov said that while Pfizer and BioNTech's new COVID-19 vaccine is good news in the battle against the pandemic, the general public should not expect vaccines to have a major impact on their lives until next summer, as reported in Fidelity.
The companies recently reported early Phase III trial data indicating that the vaccine candidate was more than 90% effective in preventing COVID-19.
Kasimov said in a posting that while there still are some unanswered questions about the vaccine pertaining to side effects and how well it works in various populations, a 90% efficacy rate is a "best case outcome."
The analyst noted "there's a lot we still need to learn, but having a vaccine that works-the first of over 200 that are in development-and having it work so well is a great accomplishment and the clearest sign yet that life is going to get back to the new normal in the not too distant future."
Meanwhile, Kasimov said data on Moderna's vaccine is expected in the next two or three weeks, followed by Phase III results on vaccines being developed by Johnson & Johnson and AstraZeneca. Data on additional vaccines should be out during the first half of 2021.
"My best guess from a mass vaccination point of view is that we're probably looking towards next summer. Maybe for an absolute best case it's late spring, but I think for your typical individual it's still some ways off," he added.
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