Measures currently being taken against COVID-19 are the only means of containing and suppressing the virus. Until a vaccine is made and tested, progress will remain slow. As we’ve seen over the past month, the concerns around this novel coronavirus will only grow as markets are getting crushed around the world.
It is safe to say the markets are in bear market territory now, and some are suggesting this will be a recession. Some of the big bears are even calling this the beginning of a depression. Again, the quickest and most effective solution to this situation is to find a vaccine.
China first faced the outbreak of the novel coronavirus, and now it has spread across the world. Global infections of roughly 206,000 people have been reported, and about 125,000 of these are outside of mainland China. This number is only growing.
There are currently 115,000 active cases of the coronavirus and over 91,000 closed cases. Of those with outcomes, nearly 83,000 of those infected have recovered, while over 8,200 deaths have been reported.
24/7 Wall St. has tracked some health care companies with prospects at crafting a vaccine to deal with this novel coronavirus and where they stand now.
Novavax Inc. (NASDAQ: NVAX) and Moderna Inc. (NASDAQ: MRNA) are each working on vaccines. Phase 1 clinical trials are expected to come soon. Large drugmakers GlaxoSmithKline PLC (NYSE: GSK) and Johnson & Johnson (NYSE: JNJ) are working on vaccines too.
Inovio Pharmaceuticals Inc. (NASDAQ: INO) is getting ready for U.S. clinical trials in April for its DNA-based vaccine. Sanofi (NASDAQ: SNY) is a little late to the party, but it has announced plans to develop a vaccine, leveraging its previous work for a SARS preclinical vaccine.
Gilead Sciences Inc. (NASDAQ: GILD) has plans to administer its remdesivir drug (previously used to treat Ebola) to coronavirus patients this month. According to the World Health Organization, this may be the best chance to treat COVID-19 effectively.
In addition, Regeneron Pharmaceutical, Inc. (NASDAQ: REGN), Takeda Pharmaceutical Co. Ltd. (NYSE: TAK) and Vir Biotechnology Inc. (NASDAQ: VIR) are each developing preclinical treatments.