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Moderna has developed the first experimental coronavirus vaccine, but an approved treatment is more than a year away. Photo: David L. Ryan/The Boston Globe via Getty Images

A healthy U.S. volunteer received the first dose of an experimental coronavirus vaccine, a potential defense against the virus if it becomes a long-term threat.

Where it stands: The trial will ultimately give 45 volunteers two doses about 28 days apart in order to test the vaccine's effectiveness in protecting the subjects against COVID-19. If successful, several more trials with larger subject groups will be needed to prove whether there are common side effects.

Context: The vaccine candidate, code-named mRNA-1273, was developed by the National Institutes of Health and Massachusetts-based biotechnology company Moderna Inc.

  • Several other vaccines from researchers and companies around the world are in development.

What to watch: Even if the trial is successful, a vaccine for mass production and distribution worldwide will likely not be available for 12–18 months, said Anthony Fauci, director of the NIH's National Institute of Allergy and Infectious Diseases.

Go deeper

Dion Rabouin, author of Markets
Updated 2 hours ago - Economy & Business

Our make-believe economy is here to stay

Illustration: Eniola Odetunde/Axios

The Federal Reserve and global central banks are remaking the world's economy in an effort to save it, but have created something of a monster.

Why it matters: The Fed-driven economy relies on the creation of trillions of dollars — literally out of thin air — that are used to purchase bonds and push money into a pandemic-ravaged economy that has long been dependent on free cash and is only growing more addicted.

Mike Allen, author of AM
4 hours ago - Politics & Policy

Why Trump may still fire Barr

Photo: Jabin Botsford/The Washington Post via Getty Images

Attorney General Barr may be fired or resign, as President Trump seethes about Barr's statement this week that no widespread voter fraud has been found.

Behind the scenes: A source familiar with the president's thinking tells Axios that Trump remains frustrated with what he sees as the lack of a vigorous investigation into his election conspiracy theories.

Mike Allen, author of AM
4 hours ago - World

Scoop: Trump's spy chief plans dire China warning

Xi Jinping reviews troops during a military parade in Beijing last year. Photo: Thomas Peter/Reuters

Director of National Intelligence John Ratcliffe on Thursday will publicly warn that China's threat to the U.S. is a defining issue of our time, a senior administration official tells Axios.

Why it matters: It's exceedingly rare for the head of the U.S. intelligence community to make public accusations about a rival power.