The COVID-19 virus has sent the market and the global economy into a tailspin. The Organisation for Economic Co-operation and Development slashed its global growth forecast for 2020 Monday by 0.5 points to 2.5% versus already-weak 2.9% growth in 2019.

Global banks have begun talking up the economy with the promise of stimulus injection.

As the world and China in particular battle the deadly pandemic, a small batch of biotechs and a handful of big pharma companies are racing against time to bring to the market potential treatment and/or vaccines to combat the virus.

Rocky R&D Pathway For Coronavirus Products

Investors scurrying for cover amid the bloodbath in the stock market are investing in biotechs that are targeting the new coronavirus.

COVID-19 levered biotechs are offering investors an opportunity due to the kind of returns the stocks can generate in the eventuality that R&D efforts come to fruition.

Given that most of the investigational therapies are vaccines are only in the animal testing stage, is it too early to take a headlong plunge into these stocks?

"Given the community spread in the U.S., particularly in the states of Washington and California, we believe the current administration's support for rapid development of vaccines and therapies in the U.S. could pave the way for an accelerated regulatory pathway to be made available by government agencies for the rapid market entry of such products that show conclusive efficacy against COVID-19," H.C. Wainwright analyst Raghuram Selvaraju said in a note.

The analyst estimates it would take around 18-24 months to complete the clinical development of a COVID-19 vaccine.

Benzinga reviewed the COVID-19-related updates from biotechs to gain an understanding of how close each is in bringing a treatment or vaccine to market.

See Also: Attention Biotech Investors: Mark Your Calendar For These March PDUFA Dates

Gilead: The Frontrunner?

Large-cap biopharma Gilead Sciences, Inc.'s (NASDAQ: GILD) investigational drug remdesivir has the World Health Organization's seal of approval.

"There is only one drug right now that we think may have real efficacy and that's remdesivir," WHO assistant director-general Bruce Aylward said at a late February press briefing in China.

Remdesivir is an investigational nucleotide analog with broad spectrum antiviral activity that has shown in vitro and in vivo activity in animal models against the viral pathogens MERS and SARS.

Gilead has initiated two Phase 3 studies in adults diagnosed with COVID-19 following the FDA's rapid review and acceptance of the IND filed by the company.

The company said it expects to enroll 1,000 patients at medical centers, mainly in Asia, beginning in March.

Chinese health authorities have initiated two trials with remdesivir in infected patients in the Hubei province, and those clinical trial results are anticipated in April.

The U.S. National Institute of Allergy and Infectious Diseases, or NIAID, has initiated a Phase 2 study to test remdesivir in hospitalized adult patients diagnosed with COVID-19.

Inovio Sets Timeline

Inovio Pharmaceuticals Inc (NASDAQ: INO) is working with Chinese contract development manufacturer Beijing Advaccine Biotechnology to develop INO-4800, a DNA vaccine for COVID-19, unveiled an accelerated development timeline.

The company expects to commence a Phase 1 trial in April and mass produce the vaccine by the end of 2020 to be used in case of emergency or for further trials.

One advantage of DNA vaccines is that they do not require refrigeration or cold chain logistics, according to H.C. Wainwright.

Moderna's Vaccine Candidate To Enter Clinics

Moderna Inc (NASDAQ: MRNA) said in late February it has shipped MRNA-1273, its mRNA vaccine targeting COVID-19, to the NIAID to be used in a Phase 1 study.

H.C. Wainwright said Moderna could begin Phase 1 trials around the same time as Inovio.

Novavax In Animal Testing

Novavax, Inc. (NASDAQ: NVAX) said in late February that it is assessing multiple nanoparticle vaccine candidates in animal models to zero in on an optimal candidate for human testing.

The company said it expects clinical trials to begin by the end of spring 2020.

Vir Biotech Identifies Antivirals

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