In case you're confused about the two COVID19 vaccines you've been hearing about, here's a quick overview (With a TLDR at the end).

VACCINE1 (Oxford University/AstraZeneca) - This vaccine contains a harmless common-cold virus that has been modified to contain the genetic info
of a portion of the virus (like a flag) that causes COVID19. After the vaccination, our immune system notices that flag and starts to produce ways to fight against it.

What we know so far: Per reporting from science journalists, In Phase I, the vaccine appears safe and
"activates" our immune system to fight the infection. Excitingly, it seems to activate a part of our immune system that may confer long-term immunity.

What we don't know: We still haven't seen the actual data yet. Also, it is unclear whether the immune response will truly be
long-term. Phase 2/3 will also introduce a placebo group, that will give us more robust scientific evidence as to whether or not the vaccine protects us against COVID19.

What's coming down the pipeline for vaccine 1: Phase 2/3 trials are scheduled to begin.
ALSO - "Challenge trials". One of the issues with initially testing vaccines is you don't know if someone didn't get sick b/c of the vaccine OR b/c they never encountered the virus. These challenge trials address that problem. Volunteers given the vaccines are exposed to the
virus to see whether or not they get infected. As you might have realized, there are significant ethical problems - and indeed they have a dark history - so they have to be conducted very carefully under serious regulatory oversight.

Manufacturing plans for millions of doses of
the vaccine are planned in the UK (a calculated risk given lack of complete information) to expedite vaccine availability.
VACCINE 2 (Moderna) - This vaccine uses a strand of RNA that contains genetic information for a key part of the coronavirus protein. Once it gets into the cells, our cells make this protein, which then results in an immune response and (hopefully) immunity against viral infection
. Since RNA can be degraded pretty easily, the vaccine contains little fat bubbles to help protect it.

What we know: A study published on Tuesday in the NEJM shows that the vaccine is safe (though some pecularities were noted at the 250ug second dose). The vaccine kicks our
immune system into gear, producing antibodies. A study in monkeys showed protection against COVID19 viral infection.

What we don't know: Similar to vaccine 1. Do these antibodies actually protect against COVID19? How long do they last?

What's coming down the pipeline: Phase 2
w/ the two lower doses are already underway. Phase 3 trials are being planned as well.

Manufacuring of the Modern vaccine is also already underway.
TL;DR: Two vaccines. Two different methods of delivery. Similar-ish targets. More work is needed. If approved/efficacious, we will have hundreds of millions of vaccine doses ready late in the fall/early winter.
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