In the midst of the coronavirus pandemic a few years ago, any positive news from a COVID-19 vaccine or drug developer would have been met with a surge in buying of its shares. But it’s not 2021 anymore, and there’s an encouraging development from Pfizer (NYSE: PFE) Amazon’s call for a COVID-19/flu vaccine has been met with a collective shrug from the market. In fact, investors have been so far away from the stock that its price has fallen 1.4%, compared to a 0.2% rise in 2011. Standard & Poor’s 500 Today’s indicator.
Combination vaccine fails in clinical trials
Before the market opened, Pfizer and BioNTechComirnaty, the company involved in developing its popular Covid vaccine, has released an update on the combination. Serum.
A Phase 3 clinical trial involving patients aged 18 to 64 years achieved one of the two primary endpoints: the combination vaccine successfully generated immunity against the SARS-CoV-2 strain that causes COVID-19. However, it failed to do so against both influenza A and influenza B, resulting in an insufficient immune response to the latter. In their joint press release, the companies quoted Annalisa Anderson, Pfizer’s head of vaccine research, as saying:
We are committed to developing vaccines that will reduce the burden of respiratory diseases and believe that combination vaccines are the most effective way to do this. Today’s results provide insight and direction toward achieving this goal, and we remain optimistic about our joint COVID-19 and influenza program, for which we are evaluating next steps.
Back to the drawing board
The modest selloff suggested that investors, like both companies, see enough positives in the late-stage trial not to give up hope on the combination vaccine. Covid remains a threat, and influenza is a persistent health scourge. So if Pfizer and BioNTech eventually manage to develop an effective two-in-one vaccine, it will almost certainly prove to be a very popular one.
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Eric Volkman The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a position in and recommends Pfizer Inc. The Motley Fool recommends BioNTech Se. The Motley Fool has Disclosure Policy.
Why did Pfizer stock fall on Friday? Originally posted by The Motley Fool
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