Morning Market Report - May 26, 2020
Novavax starts clinical trial of its coronavirus vaccine candidate
Novavax said on Monday it has started the Phase 1 clinical trial of a novel coronavirus vaccine candidate and has enrolled the trial’s first participants, with preliminary results slated for July.
Merck in collaboration to develop coronavirus vaccine, with clinical trials to start this year
- U.S. drugmaker Merck plans to work alongside nonprofit scientific research organization IAVI to develop a potential vaccine against the coronavirus.
- Most experts agree that it could take 12 to 18 months for a safe vaccine to be rolled out to the market.
- Even if an effective vaccine becomes available, many have warned of significant logistical challenges around distributing enough doses for the global population.
Regeneron will buy back about $5 billion of its shares from French drugmaker Sanofi
Regeneron will buy back about $5 billion of its shares from French drugmaker Sanofi, which will continue to own about Regeneron 400,000 shares after the sale. The ongoing partnership between the two companies, which dates back to 2003, will continue.
Hertz files for U.S. bankruptcy protection
With nearly $19 billion of debt and roughly 38,000 employees worldwide as of the end of 2019, Hertz is among the largest companies to go bankrupt since the pandemic began.
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