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Johnson & Johnson (JNJ) stock price is rising as the company is moving forward with its vaccine trials.
Johnson & Johnson (NYSE: JNJ) is set to begin late-stage COVID-19 vaccine trials in September. It will be ahead of schedule. Meanwhile, Johnson & Johnson also indicated that its phase one trial should start next week. 1000 participants are expected for it.
At the time of filing this report, in the pre-market, Johnson & Johnson (JNJ) stock price is $149.60 (+0.23%) and yesterday the stock closed at $149.25 (+0.67%).
It comes as there are more than 100 vaccine candidates globally for the coronavirus. About 23 of those have entered human trials. With more than half a million people dead and 13 million people infected, a vaccine that works as the ultimate solution to the pandemic.
JNJ Stock Up as Company Has a Different Approach to Vaccine
Johnson & Johnson is using a unique approach for its vaccine candidate. The vaccine candidate will use genetic materials from the COVID-19 virus with a modified virus known to cause colds in humans (adenovirus). The company already has success with this approach. The approach worked with an Ebola Vaccine last year. The vaccine was given to residents of the Democratic Republic of Congo last year.
Before now, Johnson & Johnson has indicated a manufacturing capacity of between 600 and 900 million does by April next year.
Johnson & Johnson (JNJ) stock prices moved slightly this week. Its earnings though down was better than expected. Its last quarter earnings stood at $3.63 billion ($1.63 per share). It is a drop from $5.6 billion from last year (-34.6%). The company has attributed the reduction in earnings to reduced demand for its medical device unit.
Sales for over-the-counter medication products made up for the losses. Listerine mouthwash and Tylenol are examples of such products.
Johnson & Johnson Will Weather the Current Situation
With adjusted earnings of $1.67 per share Johnson & Johnson is one of those companies that could easily weather the effects of the COVID-19 pandemic. The company has seen more events in its corporate existence than many institutions.
By throwing its hat in the COVID-19 vaccine ring, Johnson & Johnson (JNJ) is bringing the quality and innovation that is its hallmark. Its approach to combating the virus is different. By using an adenovirus as a possible vector of its COVID-19 particles, the immune response could be optimal. If the human body produces the right amount and combination of antibodies, the COVID-19 situation becomes a thing of the past.
The adenovirus family of viruses is also known to cause colds in humans. Then again, it could be the solution to the problem: using a cold to stop the COVID-19 pandemic (pun intended).