Pfizer just got a large federal purchase order. Photo: Jakub Porzycki/NurPhoto via Getty Images

The Trump administration has agreed to pay Pfizer $1.95 billion for 100 million doses of the experimental coronavirus vaccine the company is developing along with German biotech company BioNTech. The deal also gives the government the right to buy another 500 million doses.

Why it matters: The federal government is betting that Pfizer and BioNTech's vaccine will effectively stave off the coronavirus and therefore is worth buying before more definitive clinical trial data come out. The Department of Health and Human Services made a similar deal for Novavax' vaccine.

Go deeper

Jul 28, 2020 - Health

Moderna's stock rises as it corrals more federal dollars

Data: Yahoo Finance; Chart: Axios Visuals

Moderna's stock soared 9% on Monday following a new federal grant and the official start of a late-stage trial for the company's coronavirus vaccine.

The bottom line: Moderna now has received almost $1 billion in taxpayer funds to help develop a vaccine that is tied to the work of federal scientists, and the stock market reactions signal that investors think they'll reap a lot of the reward if the vaccine is proven to work.

Jul 28, 2020 - Health

Fauci: Crunch time for coronavirus vaccine as late-stage trials begin

National Institute for Allergy and Infectious Diseases director Anthony Fauci at a Senate hearing in June. Photo: Kevin Dietsch-Pool/Getty Images

The first volunteer in a late-stage trial for a coronavirus vaccine developed by Moderna and the National Institutes of Health received a shot in Savannah, Georgia, at 6:45 am on Monday, NIAID Director Anthony Fauci told CNN's Wolf Blitzer.

Catch up quick: Fauci said President Trump was briefed Monday that 89 sites around the country will be enrolling individuals in the phase three trial.

Jul 28, 2020 - Health

Axios-Ipsos poll: The rise of coronavirus social bubbles

Data: Axios/Ipsos poll; Note: 1,076 U.S. adults were surveyed with ±3.1% margin of error; Chart: Naema Ahmed/Axios

Nearly half of Americans say they've established social "bubbles" of people they can trust to follow the rules for minimizing the risk of spreading the coronavirus, according to the latest installment of the Axios-Ipsos Coronavirus Index.

Between the lines: The trend isn't particularly partisan. It is most common in the suburbs and among women, older adults and people with college educations.