Shares of Pfizer Inc. jumped 11.5% in premarket trading Monday, after
the company said their COVID-19 vaccine candidate achieved "success"
in the first interim analysis from a Phase 3 study.
The company said BNT162b2 vaccine candidate was found to be more than
90% effective in preventing COVID-19 in trial participants without previous
evidence of SARS-CoV-2 infection. The companiesy said they are planning to
submit for Emergency Use Authorization (EUA) to the Food and Drug
Administration soon after the safety milestones are met, which is currently
expected in the third week of November.
is a great day for science and humanity," said
Pfizer Chief Executive Dr. Albert Bourla. "The
first set of results from our Phase 3 COVID-19 vaccine trial provides the
initial evidence of our vaccine's ability to prevent COVID-19."
Dr. Anthony Fauci, the nation’s top infectious disease expert, said
Pfizer’s findings of a coronavirus vaccine candidate that is more than 90%
effective were “extraordinary,” per a report.
results are really quite good, I mean extraordinary,” said
Fauci, director of the National Institute of Allergy and Infectious Diseases,
according to the Washington Post.
The company is still awaiting data on safety, which it expects to be
made available by the third week of November, according to a press release.
William Schaffner, infectious diseases expert at Vanderbilt University
School of Medicine in Nashville, Tennessee, called the Pfizer results better
than most anticipated. “The study isn’t completed yet, but nonetheless the data
look very solid.”
Pfizer's stock has lost 7.1%, while the S&P 500 SPX, has
gained 8.6% this year.
The Result for Pfizer.....
The European Union said on Monday it would soon sign a contract for up
to 300 million doses of the Pfizer COVID-19 vaccine.
The company has a $1.95 billion contract with the U.S. government to
deliver 100 million vaccine doses beginning this year. They did not receive
research funding from the Trump administration’s Operation Warp Speed vaccine
The drugmakers have also reached supply agreements with the United
Kingdom, Canada and Japan.
The interim analysis, conducted after 94 participants in the trial
developed COVID-19, examined how many had received the vaccine versus a
The Trump administration has said it will have enough vaccine doses for
all of the 330 million U.S. residents who want it by the middle of 2021.
Mizuho Securities analyst Vamil Divan forecast the vaccine may generate
sales in excess of $8.5 billion for Pfizer in 2020-2021 alone.
"Focus is likely to
begin shifting back towards the vaccine and broader growth outlook," Goldman
Sachs strategists Dominic Wilson and Vickie Chang told clients over the
weekend. The "likely delivery"
of major vaccine news in the next few weeks, they said, is the "next key event."
Goldman Sachs said before the Pfizer announcement that a "safe, effective vaccine"
could send stocks up by another 5% to 10%. Despite the pandemic, that would
likely push top indexes to new records.
Strategists at UBS told clients Monday that given the worsening virus
outlook — the United States is quickly approaching 10 million Covid-19 cases —"quick approval of an effective
vaccine" is a key ingredient for markets to keep rising.
"Unless a vaccine
comes within a few weeks, slower [economic] data momentum is a real risk to the
markets," the bank said.
The biotech sector is projected to surge
beyond $775 billion by 2024 as scientists develop treatments for thousands of
diseases. They’re also finding ways to edit the human genome to literally erase
our vulnerability to these diseases.