Goldman Sachs says a coronavirus vaccine could be approved later in 2020

Published Fri, Jul 17 20201:46 PM EDT

An analyst at Goldman Sachs thinks a coronavirus vaccine could be approved before year-end by the U.S. as the country tries to stem a massive uptick in cases. Data compiled by Johns Hopkins University showed U.S. cases grew by a staggering 77,200 — shattering a one-day record . Cases are rising in nearly every state as authorities roll back social distancing measures. California, Florida and Texas are some of the hardest-hit states recently. On Thursday alone, they combined for more than 38,000 cases. The virus' rapid spread has led the U.S. government to fast track the development of a potential vaccine, leading Goldman analyst Salveen Richter to believe "a vaccine may gain US approval in 2H20." Below are some companies highlighted by Goldman Sachs that could get a vaccine candidate approved later this year. Moderna Moderna released data earlier this week that showed all patients in an early trial received neutralizing antibodies after taking the company's vaccine candidate . The news pushed Moderna shares up more than 40% this week. "Management guided to potential for full phase 3 efficacy data (151 events) around Thanksgiving (11/26)/4Q20 - however, there are two interim reads at 53 and 106 events - which could enable earlier approval (pursuing a rolling submission; Fast Track designation)," Richter said in a note. Pfizer, BioNTech Pfizer and German-company BioNTech announced Monday that two jointly designed experimental vaccines received a " fast track " designation from the U.S. Food and Drug Administration. Shares of BioNTech jumped more than 14% this week on the news. Dow Jones Industrial Average member climbed more than 6.5% in that time. Richter said she expects the companies to narrow their experimental drugs to one leading candidate as more data is released over the next few weeks. She added that recent comments from Pfizer CEO Albert Bourla point to a vaccine being approved by year-end. Inovio Inovio 's coronavirus vaccine candidate was selected earlier this year for a non-human study earlier this month as part of the government's Operation Warp Speed program, which was created to find a vaccine. The company also reported July 1 positive data from a trial evaluating 45 people. Richter noted the company's pre-clinical studies on animals "in animals show robust immune response." Shares of Inovio have skyrocketed more than 700% year to date. —CNBC's Michael Bloom contributed to this report.

In this March 16, 2020, file photo, a subject receives a shot in the first-stage safety study clinical trial of a potential vaccine by Moderna for COVID-19, the disease caused by the new coronavirus, at the Kaiser Permanente Washington Health Research Institute in Seattle.

Ted S. Warren | AP

An analyst at Goldman Sachs thinks a coronavirus vaccine could be approved before year-end by the U.S. as the country tries to stem a massive uptick in cases.

Data compiled by Johns Hopkins University showed U.S. cases grew by a staggering 77,200 — shattering a one-day record. Cases are rising in nearly every state as authorities roll back social distancing measures. California, Florida and Texas are some of the hardest-hit states recently. On Thursday alone, they combined for more than 38,000 cases.

The virus' rapid spread has led the U.S. government to fast track the development of a potential vaccine, leading Goldman analyst Salveen Richter to believe "a vaccine may gain US approval in 2H20."

Below are some companies highlighted by Goldman Sachs that could get a vaccine candidate approved later this year.