What's Going On With Johnson & Johnson (JNJ) Stock Today?

Shares of Johnson & Johnson (NYSE: JNJ) rose 0.7% in the regular trading session on Thursday and were trading slightly higher in the market session on Friday.

What Happened: Johnson & Jonson said late Thursday that its single-shot COVID-19 vaccine showed strong promise against the fast-spreading Delta variant and other emerging strains of the virus.

Data showed that the durability of the immune response for recipients of its vaccine lasted for at least eight months. The vaccine was found to be 85 percent effective against severe or critical disease and showed protection against hospitalization and death, Johnson & Johnson said.

In addition, the UNICEF said it has signed a long-term deal with J&J’s Janssen Pharmaceutica NV for the supply of COVID-19 vaccine on behalf of the COVAX Facility. The supply deal will enable UNICEF to gain access to up to 200 million doses of J&J’s single-dose vaccine in 2021 for 92 countries.

See Also: Johnson & Johnson Reaches $230M Settlement With New York To End Sale Of Opioids Nationwide

Why It Matters: J&J’s announcement that its vaccine shows strong promise against the Delta variant comes as a boost to the company. First detected in India, Delta is expected to become the dominant strain in the U.S. in the coming weeks, according to the Centers for Disease Control and Prevention (CDC).

J&J has been struggling with safety concerns related to its vaccine. It was reported in early June that around half of 21 million doses produced for the U.S. was sitting unused.

Reuters reported in mid-June that J&J will miss its COVID-19 vaccine supply target to the European Union for the second quarter after millions of doses were found unfit for use.

J&J’s vaccine was supposed to be an essential tool for reaching rural areas as it requires less stringent storage than the two-dose vaccines from Pfizer Inc. (NYSE: PFE)/BioNTech SE (NASDAQ: BNTX) and Moderna Inc. (NASDAQ: MRNA).

Price Action: Johnson & Johnson shares closed 0.7% higher in Thursday’s trading session at $165.96.

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