Coronavirus Update: Moderna, CureVac and Ocugen offer updates on COVID vaccines, while China cracks down on critics of government’s pandemic response

by | Jan 9, 2023 | Stock Market

A flurry of announcements relating to COVID vaccines dominated headlines on the pandemic on Monday, with Moderna telling investors it expects to generate some $5 billion in sales in 2023. That’s down from $18.4 billion in sales in 2022. The company plans to boost spending on research and development to $4.5 billion this year, up from $3.3 billion in 2022.

provided the update in advance of the company’s presentation at the annual J.P. Morgan Healthcare Conference in San Francisco. Separately, CureVac
 said preliminary data from its early stage trial for its COVID and seasonal flu shots had positive results to advance to the next stage of clinical testing. CureVac is developing the shots with GlaxoSmithKline
 CureVac said the shot was well tolerated, and that neutralizing antibodies were beginning at the lowest tested dose for younger adults. The seasonal flu shot was also well tolerated with an increase in antibodies compared to those from a flu vaccine comparator in younger adults, CureVac said. Ocugen announced positive results in a trial of its COVID vaccine Covaxin, which uses the same vero cell manufacturing platform that has been used in the production of polio vaccines for decades. The Phase 2/3 trial involved 491 U.S. adult participants who received two doses of Covaxin or placebo 28 days apart. “Covaxin, an inactivated virus vaccine adjuvanted with TLR7/8 agonist, has been demonstrated in clinical trials to generate a broader immune response against the whole virus covering important antigens such as S-protein, RBD, and N-protein; whereas currently approved vaccines in the U.S. target only S-protein antigen,” the company said in a statement. Chief Executive Dr. Shankar Musnuri said the company is hoping the vaccine will offer an option for those who are still hesitant to take an mRNA vaccine, which uses newer technology.

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