The U.S. Food and Drug Administration (FDA) has decided on Thursday night to approve Moderna Inc's coronavirus vaccine on an emergency basis, the Financial Times reported, citing people close to the process.

The report added that the FDA is preparing written information for doctors and patients.

Prior to the report, FDA commissioner Stephen Hahn said they had informed Moderna that it would rapidly work towards the finalization and issuance of emergency use authorization for its COVID-19 vaccine in the country.