Moderna began a late-stage trial for the mRNA-1273 vaccine candidate last week and expects results as early as October.
"All the subjects in Phase-1 clinical trial were closely monitored in a clinical pharmacological unit for 24 hours post-dosing for safety and for 7 days thereafter, and the vaccine was found to be very safe", Patel said in a statement.
The agreement builds on prior HHS investments totaling $456M to support Johnson & Johnson's vaccine development initiatives.
Health and Human Services Secretary Alex Azar said the administration's "Operation Warp Speed" is increasing the likelihood that the US will have at least one reliable COVID-19 vaccine by the end of the year.
The company said it is on track to meet its goal of supplying over 1 billion doses of the vaccine globally through the course of 2021, provided it is found safe and effective.
Anand noted that the early results from these trials, as well as ones from Moderna, are "promising".
Revenue was aided partly by federal grants for development of the vaccine candidate.
As the race for vaccines and treatments for COVID-19, the disease caused by the virus intensifies, the United States government has been signing deals to buy them through its Operation Warp Speed program. "AWS' breadth and depth of services are supporting our mission to create a new generation of medicines for patients and are instrumental in our quest to develop a vaccine for COVID-19". It said that Phase II clinical trials would start on August 6.
Michael Gardam, Humber River Hospital chief of staff and an infectious diseases specialist, warned that there are risks involved in striking a vaccine deal before all phases of a clinical trial have been successfully completed.
According to J&J, the vaccine "will be provided at a global not-for-profit basis for emergency pandemic use". The vaccine will be available after approval for emergency use authorization by the U.S. Food and Drug Administration.
The so-called Moderna vaccine belongs in significant part to the people of the U.S. We paid for it.
Despite this, she reminded Canadians that all vaccine candidates will have to go through stages of development, testing, manufacturing, and distribution.