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Pfizer (PFE) stock lost 1.94% yesterday but is slightly up today in the pre-market. The company is anticipating to test a COVID-19 vaccine in thousands of people by September.
After closing yesterday at $37.36, Pfizer Inc (NYSE: PFE) stock was down 1.94%. Now in the pre-market, PFE stock is 0.24% up, at $37.45. The American multinational pharmaceutical corporation plans to test a coronavirus vaccine in thousands of people by September.
The stock has risen from the March free fall that saw it move from trading over $40 at the end of last year, to trade around $27.88. trading at $37.36, the stock is hanging on the upper border of a falling trend, whereby the next breakout might be a deciding moment for the next few months.
Pfizer stock has a market cap of $211.64 billion and is currently paying a dividend of $0.38. It is down 1.01% in the past three months, however, it has gained almost 4% in the past month. The company shares have been a component of the Dow Jones since 2004, whereby the Dow has nosedived 18.83% in the past three months.
Pfizer is collaborating with German biotech company BioNTech to focus on a technology called RNA. Such kinds of vaccines are easy to be constructed since only the pathogen’s genetic code is used to develop.
On May 11, the company reported being conducting phase 1/2, randomized, placebo-controlled, observer-blind, dose-finding, and vaccine candidate-selection study in healthy adults. “The study will be used to evaluate the safety, tolerability, immunogenicity, and potential efficacy of up to 4 different SARS-CoV-2 RNA vaccine candidates against COVID-19,” the company said in a statement.
Pfizer (PFE) Stock and Coronavirus
The company is advancing its quest for a coronavirus vaccine, whereby it said that it plans to test a coronavirus vaccine in thousands of people by September. “If the vaccine proves to be safe, the company will be able to deliver millions of doses in the October time frame,” explained Pfizer CEO Albert Bourla.
The BNT162 vaccine is currently being tested under four different vaccine variations according to Bourla. He said:
“We are collecting data as we speak in real-time so we know, we are monitoring the safety of the doses.”
According to a post on CNBC, if one or two variations indicate success, the company will ramp up trials, and then in September launch a broad large-scale study with thousands of participants.
“If things go well, and we feel that the product is safe and efficacious, and the FDA and EMA and other regulatory agencies feel the same, we will be able to deliver millions of doses in the October time frame,” Bourla concluded.
With such a card at hand, the rise of the Pfizer stock remains imminent, and only time will tell when.
You can read more about coronavirus vaccine updates in our special section on the website.