The additional funding means that Moderna has received approximately $1bn in financial support to accelerate the clinical development and manufacture of its vaccine, after it received $483m in April to support the scale up of manufacture from BARDA.
But, how would the vaccines be priced as such to ensure broader access?
In a separate development last week, the U.S. federal government reportedly earmarked a whopping $1.95 billion for 100 million doses of the coronavirus vaccine being developed by Pfizer and BioNTech, with an option to buy up to 500 million more doses at a later date. Around the same time, the company will start a parallel phase 3 study testing a two-shot regimen of the vaccine, Stoffels said.
SII Chief Executive Officer Adar Poonawalla told PTI, "It is too early to comment on the vaccine's price".
"It's not taking the summer off and we can't either, if we want to continue to fight and contain the virus and keep our economy open", said Gov. Baker.
He said that the vaccine is going to be "bought by the government and distributed free".
For now, most of Pfizer's vaccine will be stored in glass vials and stockpiled except for enough to test it on 30,000 volunteers starting later this month.
Pfizer has partnered with the biotech firm BioNTech to develop the potential vaccine BNT162b2.
The researchers show that a single dose of ChAdOx1 nCoV-19, given to six macaques 28 days before exposure to SARS-CoV-2, is effective in preventing damage to lungs and drastically reduces the viral load, when compared with six control animals.
Moderna, Pfizer, and Merck have previously said that they intend to not sell their vaccine candidates at cost and will make a profit on the vaccine.
Procurement deals for Pfizer's vaccine have been signed in the US, UK, Netherlands, Germany, France, and Italy. Earlier, at least four other COVID-19 vaccine candidates entered the phase-3 trials.
He also added that the details of the communications campaign will vary based on which subsets of the population the vaccines prove most likely to benefit, which will be determined as data reads out from ongoing clinical trials. The SEC's other recommendations related to how the trials would test for the ability of the vaccine to invoke an immune response, Serum's calculations to determine the sample size it would be studying and the dropout rates it had proposed.