Pfizer said on Wednesday that its coronavirus vaccine is 95% effective and has no serious side effects.

The state of play: The company said they have enough safety data now and plan to request an emergency use authorization from the Food and Drug Administration "within days."

• If the F.D.A. authorizes the vaccine, Pfizer has said that it could have up to 50 million doses available by the end of the year, per the New York Times.
• The announcement comes just days after Moderna announced its vaccine was 94.5% effective at preventing infections.

Why it matters: With coronavirus cases surging in the U.S., Americans remain hopeful that there could be two vaccines in distribution before the New Year.

Details: The pharmaceutical company said the vaccine prevented mild and severe forms of the virus, and was 94% effective in older adults.

• By the numbers: Pfizer counted 170 coronavirus cases among its trial volunteers, with 162 infections in people who got placebo, and eight cases in participants who received the actual vaccine.
• The data from the company thus far has not been peer-reviewed but they said they will submit to a peer-reviewed study in a scientific journal once the trial is complete.

🎧 Go deeper: Axios Re:Cap interviews Pfizer CEO Albert Bourla.