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Johnson & Johnson says one-shot vaccine is 66% effective against moderate to severe COVID

Johnson & Johnson announced Friday that its single-shot coronavirus vaccine was 66% effective in protecting against moderate to severe COVID-19 disease in the U.S. and seven other countries, but 57% effective against the South Africa coronavirus variant.

Why it matters: The vaccine is not as effective as some of its two-dose competitors, like Moderna and Pfizer, but still provides strong protection against the most serious COVID-19 symptoms. The company said it will file for emergency use authorization from the FDA within a week.

This story is breaking news. Please check back for updates.

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Substack raising $65 million in venture capital amid newsletter boom

Substack is raising $65 million in new venture capital funding that would value the company at around $650 million, Axios has learned. Existing investor Andreessen Horowitz is leading the round.

Why it matters: Substack, which provides a platform on which writers can publish paid email newsletters and keep most of the revenue, has seen its popularity soar.

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