Johnson & Johnson said Monday human testing of its experimental vaccine for the coronavirus will begin by September and it could be available for emergency use authorization in early 2021.

J&J also said it has committed more than $1 billion of investment in partnership with the federal Biomedical Advanced Research and Development Authority, which is part of the Department of Health and Human Services, to co-fund vaccine research.

J&J’s lead vaccine candidate will enter a phase 1 human clinical study by September, the company said, and clinical data on its effects is expected before the end of the year. If the vaccine works well, the company said it could be available for emergency use in early 2021.

Shares of J&J rose more than 4% in premarket trading.

The company said it is also increasing its manufacturing capacity with a new site in the U.S. and additions to existing sites in …continued .
[Source: CNBC News]