US pharmaceutical giant Pfizer announced Monday its coronavirus vaccine candidate was more than 90 percent effective in preventing Covid-19, based on the results of the latest trials.

"Vaccine candidate was found to be more than 90% effective in preventing COVID-19 in participants without evidence of prior SARS-CoV-2 infection in the first interim efficacy analysis," the company said in a press release.

The vaccine was developed by Pfizer and BioNTech SE. According to the press releave, the "mRNA-based vaccine candidate, BNT162b2, against SARS-CoV-2 has demonstrated evidence of efficacy against COVID-19 in participants without prior evidence of SARS-CoV-2 infection, based on the first interim efficacy analysis conducted on November 8, 2020 by an external, independent Data Monitoring Committee (DMC) from the Phase 3 clinical study."