The Johnson & Johnson logo is displayed on a screen on the floor of the New York Stock Exchange. [Source: Reuters]

Johnson & Johnson moved up the start of human clinical trials for its experimental vaccine against the highly contagious coronavirus by two months to the second half of July.

This as the drugmaker rushes to develop a prevention for COVID-19, the company said on Wednesday.

The acceleration should allow J&J to take part in the massive clinical trials program planned by the U.S. government, which aims to have an effective vaccine by year end.

J&J shares rose nearly 2% to $148.69.

Last March, J&J signed deals with the U.S. government to create enough manufacturing capacity to produce more than 1 billion doses of its vaccine through 2021, even before it has evidence that it works.

There are currently no U.S. approved treatments or vaccines for the virus. A vaccine is seen as essential to ending the pandemic that has infected more than 7.2 million people and killed over 412,000 globally, while battering economies worldwide.