Johnson & Johnson (NYSE:JNJ) said it expects to begin a late-stage human trial for a potential coronavirus vaccine in late September, ahead of schedule.
The company is in talks with the National Institutes of Health to move up the timeline for the trial, J&J’s Chief Scientific Officer Paul Stoffels said during a post-earnings call Thursday. The company announced earlier in the day that it plans to enter a phase one human trial next week, which will include more than more than 1,000 participants.
J&J is one of several companies working on a potential vaccine for COVID-19, which has infected more than 13 million people worldwide and killed at least 584,000, according to data compiled by Johns Hopkins University.
The company, based in New Brunswick, New Jersey, also reported second-quarter sales of $18.3 billion reflecting a decline of 10.8%, operational decline of 9.0% and adjusted operational decline of 8.8%*, primarily driven by the negative impact of the COVID-19 pandemic.
Earnings per Share of $1.36 decreased 34.6%; adjusted EPS of $1.67 decreased 35.3%; 2019 included gain from sale of Advanced Sterilization Products business.
CEO Alex Gorsky said "Our second quarter results reflect the impact of COVID-19 and the enduring strength of our Pharmaceutical business, where we saw continued growth even in this environment.
"Thanks to the tireless work of our colleagues around the world and our broad range of capabilities, we continue to successfully navigate the external landscape, and we remain focused on advancing the development of a vaccine to help address this pandemic and save lives."
JNJ shares slumped $1.28 to $146.98.
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