Pfizer COVID-19 Vaccine Efficacy Spurs Market Surge

UTC by Godfrey Benjamin · 3 min read
Pfizer COVID-19 Vaccine Efficacy Spurs Market Surge
Photo: Shutterstock

Following the positive news about the Pfizer COVID-19 vaccine efficacy, the stock market has responded with big jumps.

The first interim COVID-19 vaccine analysis result from the duo of Pfizer Inc (NYSE: PFE) and BioNTech SE (NASDAQ: BNTX) is out and the COVID-19 vaccine candidate shows about 90% efficacy. Per the report from CNBC, both pharmaceutical giants who have been working tirelessly on their COVID-19 vaccine candidate revealed on Monday that the recent trial findings with the reported effective rate in preventing COVID-19 infection rate were recorded amongst those who have never contracted the disease.

The current trials have about 43,538 participants, with about 42% from diverse backgrounds and recorded no major safety concerns. The interim result Analysis evaluated 94 confirmed cases of COVID-19 in trial participants and according to the press release, the late-stage trials will progress on to final analysis at 164 recorded COVID-19 infection cases. With this number, the duo will be able to “collect further data and characterize the vaccine candidate’s performance against other study endpoints,” the release read

Following the positive news about the Pfizer COVID-19 vaccine efficacy, the stock market has responded with big jumps, a move that cascaded into the global markets. The S&P 500 (INDEXSP: .INX) index added 93.43 points after surging 2.66% in the pre-market to close at 3,602.87. The Dow Jones Industrial Average (INDEXDJX: .DJI) also climbed 3.70% while the Nasdaq Composite (INDEXNASDAQ: .IXIC) topped 1.07%.

On the global scene, FTSE 100 Index (INDEXFTSE: UKX) soared 4.89% while the Nikkei 225 (INDEXNIKKEI: NI225) rose by 2.12%. The shares of Pfizer and BioNTech saw impressive runs in the pre-market also with the former adding a 7.20% gains and the latter being the top gainer with a 9.17% bullish surge.

Pfizer Vaccine Efficacy: Great Day for Science and Humanity

The analysis of the clinical results which proved the efficacy of the Pfizer and BioNTech vaccine was conducted by an external and independent Data Monitoring Committee and the promising result can change the entire global health landscape moving forward.

“Today is a great day for science and humanity. The first set of results from our Phase 3 COVID-19 vaccine trial provides the initial evidence of our vaccine’s ability to prevent COVID-19,” said Dr. Albert Bourla, Pfizer Chairman and CEO. “We are reaching this critical milestone in our vaccine development program at a time when the world needs it most with infection rates setting new records, hospitals nearing over-capacity, and economies struggling to reopen.”

With the vaccine, protection is offered after 28 days or 7 days after the second dose of the vaccine has been administered. Pfizer is hoping to get an Emergency Use Authorization for the vaccine as soon as more promising results are released. The possibility of getting approvals for this is high as the efficacy rate scientists project for any coronavirus vaccine candidate is at least 50%.

Should all proceed as planned, the company will aim to deliver as much as 1.3 billion doses of the vaccine in 2021, a situation that will ease the burden of the US president-elect Joe Biden.

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