Johnson & Johnson (NYSE:JNJ) saw its shares tumbled, on word the company will begin the human clinical trials of its novel coronavirus vaccine in July.
The human trials of the Johnson & Johnson COVID-19 vaccine were earlier expected to begin in September.
The pharmaceutical company, out of New Brunswick, New Jersey, said more than 1,000 volunteers, in the age groups of 18 to 55 and above 65, will participate in the phase 1/2 clinical trials, which will evaluate the safety, reactogenicity, and immunogenicity of the vaccine candidate.
Said Chief Scientific Officer said, "Based on the strength of the preclinical data we have seen so far and interactions with the regulatory authorities, we have been able to further accelerate the clinical development of our investigational SARS-CoV-2 vaccine, Ad26.COV2-S, recombinant.”
The New York Times reported J&J’s vaccine is one of the five candidates considered by President Donald Trump's "Operation Warp Speed" as most likely to get regulatory approval.
Johnson & Johnson said it in discussion with the National Institutes of Allergy and Infectious Diseases to start the third phase of its clinical trials ahead of schedule as well, if phase one results are favorable, and it gets necessary regulatory approval.
The company said it is also increasing its manufacturing capacity and talking with partners globally "to ensure worldwide access" once and if the vaccine is approved for preventative use against the coronavirus.
Shares lost $1.43, or nearly 1%, to $146.38.
