Stock and oil prices climbed on Monday on news that a coronavirus vaccine candidate by biotech startup Moderna has shown promise in early clinical trials. Governments are starting to lift their lockdowns, but Americans and the rest of the world will need an effective vaccine—and maybe several—for a return to pre-virus normality.

It took 20 months for scientists to prepare a SARS vaccine for test on humans, but private innovation is compressing the time-frame against Covid-19. Using rapid genetic sequencing and its nimble…


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