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Early Wednesday morning in Asia, Reuters reported on the French drugmaker Sanofi SA’s plans to enroll multiple subjects for trials of an experimental vaccine for the coronavirus.

Key quotes

French drugmaker Sanofi SA said it plans to enroll thousands of subjects globally for trials of an experimental vaccine for the coronavirus it is developing with GlaxoSmithKline Plc, and that it has started to discuss advanced purchases with several countries.

Sanofi is working on two vaccine projects to prevent COVID-19 – the illness caused by the new coronavirus – and said it is exploring several manufacturing options, including fresh collaborations to ensure it can meet demand, if either program is successful.

While Phase I vaccine trials typically involve a small number of healthy volunteers to test for safety, Sanofi said it had opted for higher numbers to secure stronger data sooner.

Of more than 100 vaccine candidates in development, 10 have reached the clinical testing stage so far, according to California-based think tank Milken Institute.

Market implications

With the signs of gradual re-opening in major economies, including the US, news like this adds to the market’s risk-on sentiment. While portraying the same, S&P 500 Futures flash 0.18% gains to 2,865 during the initial minutes of its Asian open.