In what has come as a major development in the field of coronavirus vaccine research, Moderna on Monday said that preliminary Phase III trial data has shown that its coronavirus vaccine candidate is more than 94% effective in preventing the virus.

As per the pharma company, 30,000 participants participated in its experiment. The vaccine was given to half of them in two doses. Only five cases contracted the virus. And 90 cases of coronavirus were observed in the placebo group. "No significant safety concerns have been reported by the study," a report says.

CNN has reported that this is the second vaccine to emerge from the US with an astonishing success rate in terms of efficiency. Earlier in the month, Pfizer said that its vaccine candidate is more than 90% effective in preventing coronavirus.

This has prompted many to say that the world may have got its second coronavirus vaccine. Unlike Pfizer's vaccine, Moderna's vaccine is said to support room temperature for storage.