Pfizer is set to apply for emergency FDA approval for a COVID-19 vaccine in November.
The pharmaceutical giant has been working on a vaccine with German company BioNTech, with the companies saying they have received positive results to date from trials.
Should such medication prove successful, the two companies hope to produce 100 million doses by the end of 2020, and make 1.3 billion next year.
Pfizer boss Albert Bourla has said that he wants to provide "greater clarity" surrounding development time periods, stating that they are testing the vaccine on 38,000 people across the globe, the Financial Times reports.
In an open letter published on Friday, he said Pfizer should know by the end of the month if the vaccine is effective.
He added that he would publish full data of results, whether they be positive or negative.
However, he cautioned that date could come earlier or later depending on "changes in infection rates" among those taking part in trials.
He said: “To ensure public trust and clear up a great deal of confusion, I believe it is essential for the public to understand our estimated timelines."
The positive news comes amid worrying times in Ireland, which saw another 1,000 cases diagnosed on Friday.
The National Public Health Emergency Team has recommended again that Ireland move to a Level Five lockdown, this time for a period of six weeks.
The Covid-19 Cabinet Sub Committee will meet today to discuss such measures, with a decision expected on Saturday night or possibly Sunday.
