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Pfizer, BioNTech Rise as Covid-19 Vaccine Shows Promise in Preliminary Data

Stock MarketsJul 01, 2020 11:40AM ET
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© Reuters.

By Christiana Sciaudone

Investing.com -- Shares of Pfizer jumped Wednesday after preliminary data for a Covid-19 vaccine showed promising results, pushing the market higher.

Pfizer Inc (NYSE:PFE) rose 5% and its partner in the project,  Biontech Se (NASDAQ:BNTX), rose 2.2%. TheDow Jones Industrial Average and Nasdaq 100 are both trading slightly higher Wednesday.

The vaccine program, called Project Lightspeed, aims to battle the Covid-19 virus. It includes four investigational vaccine candidates. The preliminary data demonstrated that one of them, BNT162b1, could be administered in a dose that was well tolerated and generated dose dependent immunogenicity, the company said.

The data has yet to be peer-reviewed.

“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, top-line findings,” said Kathrin U. Jansen, Ph.D., the senior vice president and head of Pfizer's Vaccine Research & Development unit.

“These preliminary data are encouraging in that they provide an initial signal that BNT162b1 targeting the RBD SARS-CoV-2 is able to produce neutralizing antibody responses in humans at or above the levels observed in convalescent sera – and that it does so at relatively low dose levels,” said Ugur Sahin, M.D., the CEO and co-founder of BioNTech.

Pfizer, BioNTech Rise as Covid-19 Vaccine Shows Promise in Preliminary Data
 

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Comments (4)
Lanre Lawal
Lanre Lawal Jul 01, 2020 2:01PM ET
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Considering that Pfizer has lost more in 1 week than it has gained, it's the stock is not yet bullish enough for the progress it's making in Covid 19 vaccine research.
Kaveh Sun
Kaveh Sun Jul 01, 2020 11:16AM ET
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Pfe is up 5%. I wouldnt call that ‘jump’.
Kaveh Sun
Kaveh Sun Jul 01, 2020 11:16AM ET
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maga king man volunteers dont always get paid or get paid peanuts.
greg mason
greg mason Jul 01, 2020 11:15AM ET
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Bloomberg has an arcticle out this a.m on FDA requirements even if takes a lil longer to get an vaccine . however this news is promising on Pfizer ,BioNTech
maga king
maga king Jul 01, 2020 11:14AM ET
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lol by the time this vaccine comes out corona would've mutated a thousand times. but a useless vaccine still costs you 2 grand Lmaooo. ban vaccines! arrest bill gates!
 
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