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Photo: Alex Gottschalk/DeFodi Images via Getty Images

The Food and Drug Administration released detailed data on Tuesday showing Moderna's COVID-19 vaccine is safe and "highly effective" in preventing cases of the virus in adults.

Why it matters: It clears the way for the emergency authorization of a second coronavirus vaccine in the U.S. as soon as this week, making inoculation available to millions more Americans.

  • The review confirmed Moderna's claim that the vaccine had a 94.1% efficacy rate in a trial of 30,000 people, with the FDA describing the recommended two-dose regimen as "highly effective" in preventing infection 14 days after the second dose.
  • The most common side effects included fever, headache, muscle pain, fatigue and joint pain — but none were deemed dangerous, per the agency.
Incidence of coronavirus infection from patients who received placebo vs. vaccine. Via FDA

What's next: An FDA advisory panel will meet on Thursday to review the data and vote on whether to recommend emergency authorization.

  • Officials said Monday they are prepared to ship out just under 6 million doses when the authorization is granted, more than double the 2.9 million doses of Pfizer's vaccine that the U.S. initially prepared to be shipped out this week.
  • This summer, Moderna struck an agreement with the federal government's Operation Warp Speed to provide 100 million doses if the vaccine proved to be safe and effective. The Trump administration purchased 100 million more Moderna doses last week to ensure "continuous delivery through the end of June 2021."

Go deeper

17 hours ago - Health

Amazon offers to help Biden administration with COVID vaccine efforts

Amazon CEO Jeff Bezos at the White House with Jill Biden in 2016. Photo: Chip Somodevilla/Getty Images

Amazon's worldwide consumer CEO Dave Clark has offered to help the Biden administration with its coronavirus vaccination goals by mobilizing efforts to inoculate its employees, according to a letter sent to President Biden on Wednesday.

Why it matters: As demand for the coronavirus vaccine is outstripping supply, Amazon has about 800,000 employees, many of whom are essential workers. The Biden administration wants to vaccinate 100 million Americans in 100 days.

Dion Rabouin, author of Markets
19 mins ago - Economy & Business

First glimpse of the Biden market

Photo: Jonathan Ernst-Pool/Getty Images

Investors made clear what companies they think will be winners and which will be losers in President Joe Biden's economy on Wednesday, selling out of gun makers, pot purveyors, private prison operators and payday lenders, and buying up gambling, gaming, beer stocks and Big Tech.

What happened: Private prison operator CoreCivic and private prison REIT Geo fell by 7.8% and 4.1%, respectively, while marijuana ETF MJ dropped 2% and payday lenders World Acceptance and EZCorp each fell by more than 1%.

Mike Allen, author of AM
51 mins ago - Politics & Policy

Biden-Harris, Day 1: What mattered most

President Joe Biden and first lady Dr. Jill Biden arrive at the North Portico of the White House. Photo: Alex Brandon-Pool/Getty Images

The Axios experts help you sort significance from symbolism. Here are the six Day 1 actions by President Biden that matter most.

Driving the news: Today, on his first full day, Biden translates his promise of a stronger federal response to the pandemic into action — starting with 10 executive orders and other directives, Caitlin Owens writes.