Pfizer (NYSE: PFE) wowed the world last week when it reported positive interim efficacy data from phase 3 trials of its coronavirus vaccine candidate. In the days that followed, everyone talked about the potential Pfizer vaccine -- and wondered when and how they could get it. The European Commission even finalized an order for the future product after months of discussions. And Pfizer became the leader in the coronavirus vaccine race.
But fast-moving footfalls weren't far off. Biotech Moderna (NASDAQ: MRNA) this week announced positive efficacy data from its own late-stage trial. The next steps for both players: reporting two months of follow-up safety data from the trials, then applying for Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration. Right now, it may look like the companies are neck and neck. But in fact, Moderna has sprinted ahead. Here are two reasons why: