The coronavirus pandemic continues to spread across the globe. There are more than 10.4 million cases of the coronavirus worldwide, with over 511,000 deaths. The U.S. has 2.6 million cases and 127,000 deaths.
A silver lining is that more than 100 companies are working to find a COVID-19 cure. Some of the companies leading the vaccine race include Johnson & Johnson (JNJ) - Get Johnson & Johnson (JNJ) Report, Pfizer (PFE) - Get Pfizer Inc. Report, Moderna (MRNA) - Get Moderna, Inc. Report, AstraZeneca PLC (AZN) - Get Astrazeneca PLC Sponsored ADR Report, GlaxoSmithKline (GSK) - Get GlaxoSmithKline plc Sponsored ADR Report, and Novavax (NVAX) - Get Novavax, Inc. Report.
Johnson & Johnson is collaborating with Beth Israel Deaconess Medical Center and BARDIA and is in Phase I of development, Pfizer is collaborating with BioNTech (BNTX) - Get BioNTech SE Sponsored ADR Report and is in Phase I of development. Moderna is collaborating with the NIAID and Lonza Ltd. and is in Phase II of development. AstraZeneca PLC is collaborating with Oxford University and is in Phase II of development. GlaxoSmithKline (GSK) is collaborating with Sanofi (SNY) and is in Phase I of development. Novavax is in Phase I of development.
Dr. Fauci spoke to TheStreet in June and said he was "cautiously optimistic" that a vaccine is on track in 2020.
"I want to make sure people don't misunderstand what we're saying. My confidence is that we will get an answer to whether a vaccine works or not, within a period of, as I said early on, a year to 18 months, is what I originally said. Now it looks like it's closer to a year because we've been able to speed up a couple of things without compromising safety or scientific integrity," said Fauci.
"But people need to understand, when you're dealing with the development of a vaccine, there is never a guarantee that the vaccine will work. So, anyone who says, they guarantee you, we are going to have an effective vaccine by whatever timeframe, is actually really not giving you the proper information for you to understand what's going on. What we're doing, is we're doing the development and the testing in an appropriate way, so that hopefully, by the end of this calendar year, we will know if it works."