Johnson & Johnson's (NYSE:JNJ) big moment is right around the corner. A U.S. Food and Drug Administration (FDA) committee meets on Friday to advise on a possible Emergency Use Authorization (EUA) for the company's coronavirus vaccine candidate.
The FDA already granted EUAs for vaccines to two companies: Pfizer (NYSE:PFE) and Moderna (NASDAQ:MRNA). Johnson & Johnson's efficacy data aren't as high as those of these more advanced rivals. And the U.S. just ordered enough of the Pfizer and Moderna vaccines to cover nearly the entire population. So the situation is less urgent than it was when Pfizer and Moderna requested EUAs. Still, it's very likely the FDA will grant Johnson & Johnson authorization as early as next week. Here are two reasons why.