The first doses of the vaccine could be available in December.

The world may soon have a vaccine to end the coronavirus pandemic. Early on November 9, 2020, Pfizer and BioNTech released new data on a phase three vaccine trial that shows it was more than 90 percent effective in preventing infection with COVID-19. The company hopes to apply for an FDA emergency use authorization in November and plans to ship nearly 50 million doses of the vaccine worldwide in 2020. The study included 43,538 participants, and no serious complications have been reported. The vaccine will be delivered in two doses and provides immunity in 28 days.

The stock market soared on Monday’s news, propelling airline, hotel, and oil stocks in the hopes world travel would soon return to normal.

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The phase three trial by Pfizer and BioNTech began in July of this year and included patients with diverse backgrounds from the U.S. and the world. More than 90 percent of the original group has already received a second dose of the vaccine. The clinical trial will continue adding participants until 164 patients are confirmed with COVID-19. News of the vaccine comes as case volume is exploding across the world.

The CEO of Pfizer thanked everyone who made the trial possible.

“I want to thank the thousands of people who volunteered to participate in the clinical trial, our academic collaborators and investigators at the study sites, and our colleagues and collaborators around the world who are dedicating their time to this crucial endeavor,” said Dr. Albert Bourla, Pfizer Chairman and CEO. “We could not have come this far without the tremendous commitment of everyone involved.”

In an interview with CNN’s Dr. Sanjay Gupta, Dr. Bourla said Pfizer expects to provide the vaccine for free to all Americans. The company plans to ship an additional 1.3 billion doses in 2021.

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