Coronavirus vaccines in development aren't a short-term cure

Yes, but: "A vaccine is not a short-term solution controlling this epidemic, but it is an important tool that could control it for subsequent years if this virus continues to circulate in humans," said Andy Pekosz, a professor at the Johns Hopkins Bloomberg School of Public Health.

Where it stands: Chinese researchers cracked the virus' genetic sequence and shared it with other scientists.

• Several biotech companies and universities have begun working on potential vaccines, using millions of dollars' worth of grants from the Coalition for Epidemic Preparedness Innovations, according to Biocentury.
• Several antivirals and steroids already on the market are also undergoing clinical trials to test their effectiveness against the novel virus. This could be a quicker solution.

Go deeper: How the world is responding to the coronavirus outbreak