Pfizer now says its COVID-19 vaccine is 95% effective, applying for FDA approval

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Final results show Pfizer and the German-based BioNTech's COVID-19 vaccine is even more effective than first thought, and it will ask for clearance from the FDA to use it within days.

Pfizer announced Wednesday that final data analysis found their coronavirus vaccine was up to 95% effective in preventing COVID-19.

The company says it will apply for authorization for emergency use in the US "within days."

Pfizer says there were no major side effects and it's effective in all ages and ethnicities. The one major draw back is that it still needs to be stored at ultra-cold temperatures.

“The final analysis underlines the results of the positive interim efficacy analysis announced on November 9,” BioNTech CEO Ugur Sahin said in a statement. “The data indicates that our vaccine is able to induce a high rate of protection against COVID-19 only 29 days after the first dose. In addition, the vaccine was observed to be well-tolerated in all age groups with mostly mild to moderate side effects, which may be due in part to the relatively low dose.”

COVID-19 vaccines are being carefully evaluated in clinical trials and will be authorized or approved only if they make it substantially less likely you’ll get COVID-19, said a statement from the CDC. "Based on what we know about vaccines for other diseases, experts believe that getting a COVID-19 vaccine may help keep you from getting seriously ill even if you do get COVID-19."

Clinical trials of COVID-19 vaccines must first show they are safe and effective before any vaccine can be authorized or approved for use.

"The known and potential benefits of a COVID-19 vaccine must outweigh the known and potential risks of the vaccine for use under what is known as an Emergency Use Authorization (EUA)" says the CDC.