Pfizer, BioNtech and other companies are racing to develop a vaccine, since there are currently no approved treatments and only mixed results of medicines understudy against the virus.
Britain's AstraZeneca said in May it had joined with the University of Oxford on a vaccine project also being tested in volunteers. They are also projecting an end of the year release date.
"The hope of many people is that we will have a vaccine, hopefully several, by the end of this year," said Pascal Soriot, head of AstraZeneca, according to the AFP.
Pfizer aims to make 10-20 million doses of the coronavirus vaccine by the end of 2020 for emergency use should it pass tests, the US drugmaker's head of vaccines announced in May.
Making millions of doses within just months, as Pfizer hopes, would mark almost unprecedented speed and require swift regulatory action.
"Of course we need to see and wait to see how the vaccine's efficacy and safety is demonstrated, hopefully in the coming months," Nanette Cocero, global head of Pfizer Vaccines, said on a call organized by Geneva-based industry group International Federation of Pharmaceutical Manufacturers (IFPMA).
"Assuming that is demonstrated, we are looking to ramp up manufacturing rather quickly to have around 10 to 20 million doses by the end of this year, which are expected to then of course be used in an emergency type of setting."
Other drug-makers testing more than 70 COVID-19 vaccine candidates include Moderna, Johnson & Johnson and Novavax, and smaller projects like at Bern's Inselspital hospital in Switzerland.