US pharmaceutical company AstraZeneca Plc (LON: AZN) (STO: AZN) announced on 23 November 2020 that its experimental COVID-19 vaccine has shown an average efficacy of 70% in its large scale trials, CNN reported on Monday.

This vaccine, developed with the University of Oxford, showed 90% efficacy in one dosing regimen and 62% efficacy in a second regimen, which averages to a 70% efficacy, AstraZeneca said.

In a news release, AstraZeneca said that its vaccine was "highly effective in preventing COVID-19, the primary endpoint, and no hospitalisations or severe cases of the disease were reported in participants receiving the vaccine."

According to the company, the interim analysis included a total of 131 COVID-19 cases.

This comes after Moderna announced earlier this month that its vaccine was 94.5% effective against COVID-19 and Pfizer announced its vaccine was 95% effective, CNN added.