As the coronavirus outbreak continues to spread, some of the biggest drug companies are moving closer to finding a vaccine.
Biotech giant Gilead Sciences GILD is planning to administer its remdesivir drug to patients next month. Remdesivir is an experimental drug that has been used to treat Ebola. The World Health Organization (WHO) believes it may be the best chance to effectively treat the coronavirus.
Novavax NVAX and Moderna MRNA are also working on vaccines, and both companies expect to begin phase 1 studies soon. Drugmaker Sanofi SNY recently announced plans to develop a vaccine; it said it will leverage previous work for a SARS pre-clinical vaccine. Other large drug makers like GlaxoSmithKline GSK and Johnson & Johnson JNJ are working on cures as well.
Scientists are hoping to cut the time it takes to develop a vaccine in half—which used to take years, since the virus had to be grown in a lab—with a new tool that builds a vaccine based on a virus’ genetic sequence. Researchers are hoping to have a viable cure by this fall.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Johnson & Johnson (JNJ): Free Stock Analysis Report
Sanofi (SNY): Free Stock Analysis Report
Gilead Sciences, Inc. (GILD): Free Stock Analysis Report
Moderna, Inc. (MRNA): Free Stock Analysis Report
GlaxoSmithKline plc (GSK): Free Stock Analysis Report
Novavax, Inc. (NVAX): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.