Pfizer Inc (NYSE: PFE), and its partner BioNTech SE (NASDAQ: BNTX), announced positive results for the Phase 1 trial of its second COVID-19 vaccine candidate, stating that the latter vaccine candidate had fewer side effects than its first.
What happened
The second vaccine candidate named BNT162b2 as B2 is already in advanced trials and its administration was well tolerated among the trial participants across the age spectrum, according to a statement released by the two companies Thursday.
The companies said that 332 people participated in the clinical trial, which was either the last vaccine or the first mentioned BNT162b1 or B1.
The recipients of the B2 candidate reported fewer side effects related to the vaccine, with such adverse events reported 16.7% of the time. In the case of B1, the adverse event happened 50% of the time, according to the drugmakers.
Some data from a major study of the B2 candidate may have been available since October, Stat reported.
Why it matters
Barclays analyst Carter Gould achieved an Equal-weight rating with a $ 35 price target on Pfizer last month, pending updates on the drugmaker’s lead B2 vaccine candidate.
The pharmaceutical giant in New York plans to pay a course for its vaccine in the United States and developed countries.
CEO Albert Bourla said in July that such countries “will not receive a lower price for the same volume Commitment as the US”
Modern Inc’s (NASDAQ: MRNA) vaccine candidate reviews mid-to-late stage clinical trials, and Johnson and Johnson (NYSE: JNJ) is expected to begin advanced stage testing for its candidate in the coming months.
Price action
Pfizer shares closed nearly 1.2% higher at $ 38.72 on Thursday and gained another 0.46% in the after-hours session.
BioNTech shares closed nearly 1% higher at $ 66.27 on the same day and rose another 1.09% in the hours after session.
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