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Pfizer News: PFE Stock Surges 4% on Positive Covid-19 Vaccine Results

Pfizer (NYSE:PFE) news for Wednesday concerning one of its vaccines for the novel coronavirus has PFE stock taking off.

Pfizer News: PFE Stock Surges 4% on Positive Covid-19 Vaccine Results

Source: Manuel Esteban / Shutterstock.com

According to a Pfizer news release, the company has four coronavirus vaccines in the works under its Project Lightspeed program. One of these vaccine candidates, BNT162b1, is showing potential as a treatment for the virus.

Pfizer notes that all patients that received the 10 µg or 30 µg doses are starting to see positive results. That includes an increase in RBD-binding IgG antibodies, as well as antibodies able to neutralize the coronavirus. To go along with this, there have been no serious adverse events during the trial.

Pfizer notes that this positive news could lead the way for the company to start additional clinical trials for the treatment as early as this month. In turn, that could allow the company to produce as much as 100 million doses by the end of the year and 1.2 billion doses by the time 2021 comes to a close.

Kathrin Jansen, Ph.D., senior vice president and Head of Vaccine Research & Development at Pfizer, said this about the news.

“We are encouraged by the clinical data of BNT162b1, one of four mRNA constructs we are evaluating clinically, and for which we have positive, preliminary, topline findings. We are dedicated to develop potentially groundbreaking vaccines and medicines, and in the face of this global health crisis, we approach this goal with the utmost urgency. We look forward to publishing our clinical data in a peer-reviewed journal as quickly as possible.”

PFE stock was up 4.4% as of Wednesday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/07/pfizer-coronavirus-news-sends-pfe-stock-soaring/.

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