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Pfizer (PFE) Up 14% in 3 Months on COVID-19 Vaccine Progress
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Shares of Pfizer, Inc (PFE - Free Report) are up 14% in the past three months compared with 2.4% increase for the industry as it made rapid progress on the development and regulatory plans for its mRNA-based coronavirus vaccine candidate, BNT162b2.
Pfizer and its Germany-based partner, BioNTech (BNTX - Free Report) selected BNT162b2, out of four mRNA-based coronavirus vaccine candidates, for late-stage development as it demonstrated better results in early-stage studies. They began global phase III development in July.
BNT162b2, a two-shot vaccine, was approved for emergency use in United Kingdom and Bahrain this month with vaccine rollout in the countries likely to begin soon. The approval for BNT162b2 comes in less than a year since the companies started developing it, which is probably the fastest in the history of vaccines.
The companies have also filed for emergency use in the United States, EU and India. In addition, the companies have initiated rolling submissions with regulatory agencies in Australia, Canada, and Japan. The FDA has scheduled an advisory committee meeting on Dec 10 to discuss Pfizer/BioNTech’s emergency use authorization (EUA). The FDA will give its decision soon after the committee’s vote. A similar meeting in EU is scheduled on Dec 29. Vaccine rollouts are expected to be rapid once the countries give the green signal.
BNT162b2 proved quite effective in preventing COVID-19 in phase III clinical studies. Final data from a phase III study on BNT162b2, announced last month, showed that the candidate was 95% effective in preventing COVID-19. The vaccine proved effective across all age groups with the efficacy percentage in adults 65 years and older being over 94%. No serious side effects were observed in the studies.
Pfizer plans to manufacture up to 50 million doses by the end of this year, if approval is received and potentially up to 1.3 billion doses by the end of 2021. It has already signed advance supply agreement for vaccine doses with governments around the world.
The stock could see further gains if emergency approvals are received in the United States and EU. The advisory committee meeting will be a key catalyst for the stock and a favorable vote could give a further push to the stock price.
Pfizer/BioNTech’s close competitor is Moderna (MRNA - Free Report) , which has also applied for emergency use in the United States and EU for its coronavirus vaccine candidate, mRNA-1273, which uses the same mRNA-based technology as Pfizer/BioNTech. Moderna’s candidate achieved efficacy rate of 94.1% in primary efficacy analysis. Importantly, it showed 100% effectiveness in preventing severe cases of COVID-19.
Meanwhile, AstraZeneca (AZN - Free Report) /Oxford University’s potential COVID-19 vaccine candidate, AZD1222 was, on an average, about 70% effective in preventing COVID-19, per interim data released from late-stage studies.J&J’s COVID-19 vaccine is also in late-stage development and the company should release data soon.
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
Image: Bigstock
Pfizer (PFE) Up 14% in 3 Months on COVID-19 Vaccine Progress
Shares of Pfizer, Inc (PFE - Free Report) are up 14% in the past three months compared with 2.4% increase for the industry as it made rapid progress on the development and regulatory plans for its mRNA-based coronavirus vaccine candidate, BNT162b2.
Pfizer and its Germany-based partner, BioNTech (BNTX - Free Report) selected BNT162b2, out of four mRNA-based coronavirus vaccine candidates, for late-stage development as it demonstrated better results in early-stage studies. They began global phase III development in July.
BNT162b2, a two-shot vaccine, was approved for emergency use in United Kingdom and Bahrain this month with vaccine rollout in the countries likely to begin soon. The approval for BNT162b2 comes in less than a year since the companies started developing it, which is probably the fastest in the history of vaccines.
The companies have also filed for emergency use in the United States, EU and India. In addition, the companies have initiated rolling submissions with regulatory agencies in Australia, Canada, and Japan. The FDA has scheduled an advisory committee meeting on Dec 10 to discuss Pfizer/BioNTech’s emergency use authorization (EUA). The FDA will give its decision soon after the committee’s vote. A similar meeting in EU is scheduled on Dec 29. Vaccine rollouts are expected to be rapid once the countries give the green signal.
BNT162b2 proved quite effective in preventing COVID-19 in phase III clinical studies. Final data from a phase III study on BNT162b2, announced last month, showed that the candidate was 95% effective in preventing COVID-19. The vaccine proved effective across all age groups with the efficacy percentage in adults 65 years and older being over 94%. No serious side effects were observed in the studies.
Pfizer plans to manufacture up to 50 million doses by the end of this year, if approval is received and potentially up to 1.3 billion doses by the end of 2021. It has already signed advance supply agreement for vaccine doses with governments around the world.
The stock could see further gains if emergency approvals are received in the United States and EU. The advisory committee meeting will be a key catalyst for the stock and a favorable vote could give a further push to the stock price.
Pfizer/BioNTech’s close competitor is Moderna (MRNA - Free Report) , which has also applied for emergency use in the United States and EU for its coronavirus vaccine candidate, mRNA-1273, which uses the same mRNA-based technology as Pfizer/BioNTech. Moderna’s candidate achieved efficacy rate of 94.1% in primary efficacy analysis. Importantly, it showed 100% effectiveness in preventing severe cases of COVID-19.
Meanwhile, AstraZeneca (AZN - Free Report) /Oxford University’s potential COVID-19 vaccine candidate, AZD1222 was, on an average, about 70% effective in preventing COVID-19, per interim data released from late-stage studies. J&J’s COVID-19 vaccine is also in late-stage development and the company should release data soon.
Pfizer currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>