US biotech firm Moderna has said on Monday that its mRNA-based candidate vaccine against COVID-19 has proven to be 94.5 percent effective in phase three clinical trials, the company said in a press release.

"This first interim analysis was based on 95 cases, of which 90 cases of COVID-19 were observed in the placebo group versus 5 cases observed in the mRNA-1273 group, resulting in a point estimate of vaccine efficacy of 94.5%," Moderna said in the press release.

 The biotech company added that the vaccine was "generally well tolerated," although side effects such as fatigue, myalgia, and headaches were reported in a minority of participants. "This positive interim analysis from our Phase 3 study has given us the first clinical validation that our vaccine can prevent COVID-19 disease, including severe disease," Stephane Bancel, Moderna's chief executive officer, said in the press release.

The primary endpoint of the Phase 3 COVE study is based on the analysis of COVID-19 cases confirmed and adjudicated starting two weeks following the second dose of vaccine. This first interim analysis was based on 95 cases, of which 90 cases of COVID-19 were observed in the placebo group versus 5 cases observed in the mRNA-1273 group, resulting in a point estimate of vaccine efficacy of 94.5% (p <0.0001).

 Both Moderna and Pfizer vaccines have been prepared using new technology. It uses a messenger named RNA or mRNA. Moderna President Stephen Hodge has said that we will have such a vaccine that will stop the corona.