Shares of Pfizer Inc. PFE,
gathered 2.3% and BioNTech SE BNTX,
On Monday, it rose 5.3% in premarket trading, after companies said two of their vaccine candidates to protect themselves against the virus that causes COVID-19 received the Fast Track designation status from the Administration. Food and Medicine. Fast Track is a process to speed up the review of new drugs and facilitate the development of new drugs. Pfizer and BioNTech’s BNT162b1 and BNT162b2 are currently being evaluated in phase 1/2 clinical trials in the US and Germany. “The FDA decision to grant these two COVID-19 vaccine candidates the Fast Track designation marks an important milestone in efforts to develop a safe and effective vaccine against SARS-CoV-2,” said Peter Honig, Vice President Senior, Global Regulatory Affairs, Pfizer “We look forward to continuing to work closely with the FDA throughout the clinical development of this program, Project Lightspeed, to evaluate the safety and efficacy of these vaccine candidates.” Pfizer shares have fallen 13.7% to date as of Friday, while BioNTech shares have more than doubled (107.7% more) and the DIA Jones Industrial Average DJIA,
it has lost 8.6%.
.
