Everything You Need to Know About the Coronavirus Vaccine Race - The Motley Fool

Many of these candidates might not advance into clinical testing in humans.

The good news is that 26 COVID-19 vaccine candidates are already in clinical testing. .

Candidates must successfully complete phase 1 testing to go on to phase 2 and then must successfully complete phase 2 testing to advance into phase 3.

There are currently five COVID-19 vaccine candidates in phase 3 testing, also commonly referred to as late-stage testing.

Another Chinese company, Sinovac Biotech, also has a COVID-19 vaccine candidate in phase 3 testing.

In addition, Pfizer (NYSE:PFE) and BioNTech (NASDAQ:BNTX) recently began a phase 2/3 clinical study evaluating COVID-19 vaccine candidate BNT162b2.

Two COVID-19 vaccine candidates currently in clinical testing have received significant funding and appear to be especially promising. .

There's also an experimental COVID-19 vaccine that hasn't advanced into clinical testing that scored a major U.S.

In the past, it's taken years for vaccines to advance through clinical testing and win regulatory approvals.

Since there are currently six coronavirus vaccine candidates in late-stage testing or close to it, the probability that none of them will win approval based on BIO's historical analysis is only one in 3,470. If we included all of the other candidates in phase 1 and phase 2 clinical testing, the odds are heavily in favor of at least one of them achieving success.

But if their COVID-19 vaccine candidates are successful in clinical testing, Moderna and Novavax could go a lot higher