Pfizer announced that its COVID-19 vaccine candidate, BNT162, was more than 90 percent effective based on early data from 94 participants in a phase 3 trial.

The company remains on track to submit a request for an Emergency Use Authorization to the FDA in the third week of this month.

Pfizer, which is developing the vaccine along with Germany-based BioNTech, expects to manufacture up to 50 million doses of the vaccine in 2020 and up to 1.3 billion doses in 2021.