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JnJ temporarily halts COVID-19 clinical trials

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Miguel A. Rodriguez
Miguel A. Rodriguez
13 October 2020
AstraZeneca received more funding

As the race for a viable COVID-19 vaccine intensifies, companies do their best to make it all happen. But sometimes things don’t go as planned. So it seems to be the case of Johnson & Johnson.

The giant announced that it has temporarily halted the #COVID-19 #vaccine candidate clinical trials because one of the participants got sick.

To review and evaluate the participants, an independent company has been hired. Also, the company’s clinical and safety physicians are being monitored. The company didn't provide further information about the matter due to privacy concerns.

However, J&J is not the first company to halt its clinical trial. In September, AstraZeneca paused the late-stage trials of its vaccine developed with the University of Oxford, after a British participant got sick. But the company overcame the incident, and now, its antibody treatment will be funded with $486 million. The pharma company will receive the money from the Trump Administration’s Operation Warp Speed to provide 100,000 doses. Under the agreement, the government could purchase as much as 1 million doses.

“This agreement with the US Government will help accelerate the development of our long-acting antibody combination, which has the potential to provide immediate and long-lasting effect in both preventing and treating COVID-19 infections. We will be evaluating the LAAB combination in different settings from prophylaxis, to outpatient treatment to hospitalization, with a focus on helping the most vulnerable people,” read CEO Pascal Soriot’s statement.

Following the news, during pre-market trading, JnJ stock price dropped 1.56%. AstraZeneca is trading 0.85% lower.

Read here about Eli Lilly and Gilead!

Sources: thestreet.com, finance.yahoo.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.