
AZN Stock Up 1% in Pre-market, AstraZeneca Vaccine Found to Be 79% Effective in US with No Safety Issues
AstraZeneca anticipates the vaccine to continue being shipped to different countries to combat the coronavirus spread.
AstraZeneca anticipates the vaccine to continue being shipped to different countries to combat the coronavirus spread.
Notably, the World Health Organization has approved two different versions of the AstraZeneca vaccine that were found out to be approximately 63% effective.
At press time, AstraZeneca stock is at $50 in the pre-market trading, which shows a 0.54% increase over its previous close of $49.73.
The AstraZeneca (AZN) shares are up today with investors bearing the sentiment that the stock will witness an improved performance thanks to the obvious advantages the Oxford-AZN vaccine has over its rivals.
Pascal Soriot, the Chief Executive of AstraZeneca revealed that the vaccine is as effective as Pfizer and can be a strong protector against the new variant of the virus which is very contagious.
AstraZeneca Q3 revenue was in line with the expected forecast at $6.6 billion.
Currently, AstraZeneca vaccine trials are in the late-stages, involving about 23,000 participants. The participants span across the UK, U.S., South Africa, and Brazil.
It is unclear whether the volunteer took the vaccine dose or was in a placebo group. AstraZeneca has not provided much information but said they followed all required review processes.
As the draft of a form letter to UK AstraZeneca vaccine trial participants states, FDA “has come to the same conclusion as the other drug regulators including the MHRA” and approved further vaccine testing.
Although the vaccine by AstraZeneca has not been globally approved, it was used in the treatment of U.S. President Donald Trump.
AstraZeneca’s clinical trials for the vaccine were halted in July after one of the participants complained of neurological disorder.
AstraZeneca has received partial immunity from the EU in a vaccine deal. The EU has already paid €336 million at €2.5 per dose.
In partnership with U.K.’s Oxford University, AstraZeneca said that it will resume the phase three clinical trial for its COVID-19 vaccine contender AZD1222 since it got an approval from UK’s Medicines Health Regulatory Authority.
The Phase 3 trial started on August 31 and enrolled about 30,000 participants at 80 locations. Now it is unclear how long the clinical hold will last. But it is obvious that other pharma companies will have to review their safety measures as well.
With the company’s ongoing late-stage clinical trials and its impressive H1 performance results, AstraZeneca (AZN) stock jumped in the pre-market.