Pfizer CEO says COVID-19 vaccine candidate has passed FDA safety milestone

/ / News

Pfizer Inc. Chief Executive Albert Bourla said the company and its partner BioNTech SE have passed the minimum two-month follow-up that the U.S. Food and Drug Administration requires as a safety milestone to obtain emergency use authorization for its COVID-19 vaccine candidate, according to media reports. Bourla made the comment at New York Times and STAT summits on Tuesday. “We are preparing now for submissions,” Bourla told the New York Times summit. The news comes a week after the drug companies said an early analysis of data from their Phase 3 trial had found the vaccine to be 90% effective. That news was followed by Moderna Inc.’s statement on Monday that its vaccine candidate had proved 94.5% effective in a Phase 3 trial, also based on an intial analysis of some data from the trial. Pfizer shares were up 1.8% premarket, but have fallen 3% in the year to date, while the S&P 500 has gained 12%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.