BioNTech (NASDAQ:BNTX) stock is rising higher on news it and Pfizer (NYSE:PFE) can test a new Covid-19 vaccine for Omicron.
According to a press release, BioNTech and Pfizer can move forward with plans to evaluate this vaccine in adults ranging from 18 to 55 years in age. This has cohorts examining three regimens of the current Covid-19 vaccine or the new Omicron version.
This study will include a total of 1,420 participants. The first batch has two doses of the current vaccine and will get one or two shots of the Omicron version. The second has three doses of the current vaccine and will get either an additional dose of it or a dose of the new Omicron version. The final batch has no prior shots of the current vaccine and will get three of the new Omicron version.
Kathrin U. Jansen, Ph.D., senior vice president and head of vaccine research at Pfizer, said the following about the news boosting BNTX stock today.
“While current research and real-world data show that boosters continue to provide a high level of protection against severe disease and hospitalization with Omicron, we recognize the need to be prepared in the event this protection wanes over time and to potentially help address Omicron and new variants in the future.”
The two companies don’t provide a timeline for when they expect results from the Omicron vaccine clinical study.
BNTX stock is up 2.3% and PFE stock is up 1% as of Tuesday afternoon.
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On the date of publication, William White 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.