BioNTech, Pfizer stocks soar after COVID-19 vaccine candidate achieves ‘success’ in first analysis

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Shares of Germany-based BioNTech SE shot up 17.9% and Pfizer Inc. jumped 8.6% in premarket trading Monday, after the company’s said their COVID-19 vaccine candidate achieved “success” in the first interim analysis of from a Phase 3 study. The companies 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 companies 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. “Today 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.” BioNTech shares have soared 171.6% year to date through Friday and Pfizer’s stock has lost 7.1%, while the S&P 500 has gained 8.6%.
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