Pfizer (NYSE:PFE) is inching up this morning, and it’s not letting anybody get in its way. As Pfizer and other Covid-19 vaccine manufacturers clash with government entities over the timeline of booster shots, PFE stock continues to gain. Investors are holding on tight to the edges of their seats. So what do you need to know about Pfizer’s booster trial? And what about its plans for a new vaccine?
Biotech and pharma giant Pfizer says that, alongside partner BioNTech (NASDAQ:BNTX), it’s gearing up to obtain approval for its booster shot.
So where does this come from? Health officials are pointing to news that the Delta variant is now the dominant strain in the U.S. It also appears that the variant can spread across vaccinated populations, like in the United Kingdom; 68% of U.K. citizens have received at least one dose, yet Delta variant cases are rising rapidly.
PFE Stock Gains Despite FDA Power Struggle
Naturally, Pfizer wants to get its booster shot out as soon as possible. Yesterday, the company made known its intent to meet with the U.S. Food and Drug Administration in the next month regarding authorization for the booster it is developing to fight the Delta variant.
Pfizer’s booster is showing great promise in antibody production to fight this variant. According to the company, trial data show antibody production ramps up from five to ten times. Pfizer also points to data from Britain and Israel suggesting the third dose’s efficacy against the Delta variant in particular.
But the FDA and the Centers for Disease Control and Prevention are pushing back. Together, health officials have released their own statement refuting the need for a booster. The FDA says “Americans who have been fully vaccinated do not need a booster shot at this time.”
This doesn’t bode well for Pfizer’s booster moves. With emergency-use authorization appearing unlikely as of now, the company must hold out hope that the FDA will come around. Still, PFE stock is rising this morning. That could speak to investors’ concerns over the Delta variant, or simply that Pfizer has a robust pharmaceutical business outside of its Covid-19 efforts.
Regardless, PFE stock is up just over 1% in morning trading.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.