Pfizer, BioNTech shares gain as more data backs vaccine candidate
Reuters
Published Aug 21, 2020 08:27AM ET
(Reuters) - Shares of Pfizer Inc (NYSE:PFE) and U.S.-listed shares of partner BioNTech SE (NASDAQ:BNTX) rose on Friday after they released additional data for their experimental coronavirus vaccine and reiterated they were on track to seek a regulatory review in October.
Pfizer has said repeatedly since June that it was targeting October for its application and the companies started a large late-stage study last month of the candidate vaccine, one of the few globally in later stages of development.
On Thursday they reported data from previous early-stage trials of the vaccine, BNT162b2, that showed it induced similar immune responses and had milder side effects than prior data on another candidate.
Pfizer stock, down 1% this year, has trailed the stellar rises in value of major pharmaceutical companies this year. Moderna (NASDAQ:MRNA) and Britain's AstraZeneca (NYSE:AZN) are among those to have moved into late-stage trials.
Raymond James European Strategist Chris Bailey said the Pfizer/BioNTech release had contributed to a more optimistic mood on stock markets on Friday.
Pfizer shares rose 1% while those of BioNTech were 6% higher before the bell.
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Written By: Reuters
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