Moderna Says Its Vaccine Is 94.5% Effective Against COVID

Biotechnology company Moderna announced Monday that its vaccine is 94.5% effective in preventing COVID-19, joining Pfizer in the warp speed race to get a vaccine to the American people. "We are going to have a vaccine that can stop COVID-19," Moderna President Stephen Hoge told Reuters.

The news agency reports the Moderna vaccine doesn't need "ultra-cold storage" that Pfizer's would need. "Moderna expects it to be stable at standard refrigerator temperatures of 2 to 8 degrees Celsius (36 to 48°F) for 30 days and it can be stored for up to 6 months at -20 degrees Celsius," according to Reuters.

"Assuming we get an emergency use authorization, we'll be ready to ship through Warp Speed almost in hours," Hoge said. "So it could start being distributed instantly."

The news was hailed by Dr. Anthony Fauci.

"These are obviously very exciting results," Fauci said. "It's just as good as it gets -- 94.5% is truly outstanding."

The FDA has said in the past that potential vaccines should be at least 50 percent effective to get the green light.