There's more promising news on the COVID-19 vaccine front as Moderna says its shot provides strong protection against the coronavirus. Monday's announcement comes a week after a competitor, Pfizer, revealed its own vaccine to be similarly effective. The announcements come as the virus surges in the U.S. and around the world. Moderna said of 95 infections so far in its 30,000-person study, all but five were in people who got dummy shots. Both Moderna and Pfizer are on track to seek permission for emergency use in the U.S. within weeks. Still, initial supplies will be limited and rationed.

The results from Moderna is the latest company to reveal impressive results from phase 3 trials.

Dr. Martha Whyte from Louisiana's Office of Public health says the news of the Moderna vaccine is Wonderful. "The more vaccines (available) with good results and quick approval, well, that's great news."

The analysis which was released Monday finds the Moderna vaccine has a 94.5% effective rate in preventing the virus.

The company will now apply to the FDA for emergency use in the coming weeks. 

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This news comes on the heels of the announcement earlier this month from Pfizer that its vaccine is 90% effective. It could be available next month for health care workers and those at high risk.

The Guardian reports the Moderna vaccine is not expected to be available outside the US until next year. Some 20 million doses are expected to be ready to ship in the U.S. before the end of this year.