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J&J is receiving $ 1 billion in U.S. funding to make 100 million doses of its COVID-19 vaccine

Shares of Johnson & Johnson JNJ,
achieved 0.8% in premarket trading on Wednesday after the company said it will receive more than $ 1 billion from the US government to produce 100 million doses of its research COVID-19 vaccine. The vaccine will be delivered on a “global non-profit basis for pandemic emergency use,” J&J said. The company’s vaccine candidate recently participated in the Phase 1 / 2a clinical trial, which is being conducted in Belgium and the US. J & J’s stock is up 0.9% this year, while the S&P 500 SPX,
+ 0.36%
has won 2.3%.