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AstraZeneca Covid-19 vaccine trial would resume shortly

As per the recent update, the British biotech firm AstraZeneca (LON: AZN) would resume its trials for the experimental COVID-19 vaccine next week. On Tuesday, Pharmaceutical giant AstraZeneca suspended the late-stage trials after an illness in a study subject in Britain.

AstraZeneca Covid-19 vaccine trial would resume shortly

As per the recent update, the British biotech firm AstraZeneca (LON: AZN) would resume its trials for the experimental COVID-19 vaccine next week. On Tuesday, Pharmaceutical giant AstraZeneca suspended the late-stage trials after an illness in a study subject in Britain. The patient was reportedly suffering from neurological symptoms associated with a rare spinal inflammatory disorder called transverse myelitis. The experimental vaccine being developed with the University of Oxford against the novel coronavirus.

Meanwhile, AstraZeneca’s CEO Pascal Soriot said today, “we should know before year-end whether the potential COVID-19 vaccine will protect people". “Data from the sick and symptomatic volunteer will be sent to an independent safety and health committee and the company will either continue or complete the trials, depending on the outcome” he added. Earlier, AstraZeneca planned to have its vaccine available by the first half of 2021 and was considered one of the most advanced in the world by the World Health Organization (WHO).

AstraZeneca’s vaccine, called AZD1222, uses genetic material from the coronavirus with a modified adenovirus. The company has already agreed to supply close to three billion doses to governments across the globe - more than any other vaccine project.

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The shares of AstraZeneca slightly rebounded from the previous session lows. On Wednesday, the stock slipped after the drugmaker said it has paused late-stage trials of its coronavirus vaccine.

 

 

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Gap stock slips 20% after earnings miss estimates

Gap stock slips 20% after earnings miss estimates

The American clothing retailer Gap Inc (NYSE: GPS) announced third-quarter financial results after the market close on Tuesday. The company last quarter earnings came below the Wall Street expectations and the revenue for the quarter fell 0.2% to $3.99 billion from $4.00 billion last year, while it beat the estimates of $3.82 billion.