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More volunteers helps measure effectiveness more quickly, but the length of time itself is a critical function of the safety testing, just like 9 women can't make a baby in one month. If, say, a drug causes cancer, you won't know that in 3 months, no matter how many people take it. And it can certainly be argued that cutting corners is worth it, given that COVID is already killing people right now. But it can't be argued that corners weren't cut if the standard length of time for safety testing is shortened.
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