The award money will come through the Biomedical Advanced Research and Development Authority, or BARDA, through the U.S. Department of Health and Human Services.
Moderna is set to receive $176 million from the U.S. government to develop a mRNA vaccine for bird flu in humans.
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Biotech company Moderna announced Monday that its new COVID-19 vaccine has proven to be 94.5 % effective.
The company said it intends to submit for an Emergency Use Authorization (EUA) with the U.S. Food and Drug Administration in the coming weeks and expects the EUA to be based on the final analysis of 151 cases and a median follow-up of more than two months.
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U.S. regulators on Monday revoked emergency authorization for malaria drugs promoted by President Donald Trump for treating COVID-19 amid growing evidence they don’t work and could cause deadly side effects.
The Food and Drug Administration said the drugs hydroxychloroquine and chloroquine are unlikely to be effective in treating the coronavirus. Citing reports of heart complications, the FDA said the drugs’ unproven benefits “do not outweigh the known and potential risks.”
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