FDA reportedly intends to authorize Moderna's COVID-19 vaccine on Friday

Another COVID-19 vaccine could be approved in the United States in just a few days.

The U.S. Food and Drug Administration on Tuesday released data confirming that the COVID-19 vaccine developed by Moderna is highly protective after Moderna previously said it has an efficacy rate of 94.1 percent, The New York Times reports. There weren't any serious safety concerns in its clinical trial, the FDA also said.

As a result, the Times reports the FDA "intends to grant emergency authorization for use of the vaccine on Friday," citing sources familiar with the agency's plans. An independent panel is set to meet on Thursday to consider whether to recommend the FDA authorize the vaccine for emergency use.

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In addition to announcing a nearly 95 percent efficacy rate, Moderna also previously said its vaccine is 100 percent effective at preventing severe cases of COVID-19, and the new documents released Tuesday suggested that it can also begin to prevent some asymptomatic infections after the first dose, per CNBC's Meg Tirrell.

Moderna's COVID-19 vaccine would be the second to earn FDA authorization, as last Friday, the FDA approved a coronavirus vaccine developed by Pfizer and BioNTech after an independent panel recommended it do so. By Monday, the first American health care workers began to receive it.