The pharmaceutical company reported disappointing results in phase 1 clinical trials of its two vaccines.
The company plans to focus its COVID-19 efforts on researching and producing two therapeutic candidates.
Moderna and Pfizer report 94% and 95% efficacy, respectively, for their vaccines.

Meyer & Meyer / Getty Images
Minimizing the number of doses that people need to receive could increase vaccination rates.
For the most part, however, the company will focus efforts on therapeutical medications.
So therapy remains very important.
The speed at which things are occurring is amazing, Weiss says.
Sometime in the next hours, days, weeks, months, we’ll have some other breakthroughs.
For the most recent updates on COVID-19, visit ourcoronavirus news page.
Merck.Merck discontinues development of SARS-CoV-2/COVID-19 vaccine candidates; continues development of two investigational therapeutic candidates.