Biotech Stocks Facing FDA Decision In September

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FDA Approvals
FDA Approvals

It’s more than five months since the pandemic began. Drug companies across the globe are working at breakneck speed to develop a vaccine for COVID-19.

Russia, on August 11, formally registered its SARS-CoV-2 vaccine, which goes by the name Sputnik V, becoming the first nation to have approved a COVID-19 vaccine. The speedy regulatory approval of Sputnik V, even before it has gone through a phase III trial, has come in for some criticism by experts.

As per the "Draft landscape of COVID-19 candidate vaccines", a database maintained by the WHO, there are 30 vaccine candidates in clinical testing and 139 are in preclinical evaluation.

Another news story that made headlines in August is the emergency approval of the investigational convalescent plasma for the treatment of COVID-19 in hospitalized patients. While the approval has been hailed as a “breakthrough” by Trump, some health experts have questioned the safety and efficacy of the treatment.