Biotech and Pharma

Pfizer, BioNTech shares gain as more data backs vaccine candidate

Key Points
  • Shares of Pfizer and U.S.-listed shares of partner BioNTech rose after they released additional data for their experimental coronavirus vaccine and reiterated they were on track to seek a regulatory review in October.
  • The companies reported data from previous early-stage trials of the vaccine, BNT162b2, that showed it induced similar immune responses and had milder side effects than prior data on another candidate.
The headquarters of German immunotherapy company BioNTech stands on April 22, 2020 in Mainz, Germany.
Thomas Lohnes | Getty Images

Shares of Pfizer and U.S.-listed shares of partner BioNTech rose on Friday after they released additional data for their experimental coronavirus vaccine and reiterated they were on track to seek a regulatory review in October.

Pfizer has said repeatedly since June that it was targeting October for its application and the companies started a large late-stage study last month of the candidate vaccine, one of the few globally in later stages of development.

On Thursday they reported data from previous early-stage trials of the vaccine, BNT162b2, that showed it induced similar immune responses and had milder side effects than prior data on another candidate.

Pfizer stock, down 1% this year, has trailed the stellar rises in value of major pharmaceutical companies this year. Moderna and Britain's AstraZeneca are among those to have moved into late-stage trials.

Raymond James European Strategist Chris Bailey said the Pfizer/BioNTech release had contributed to a more optimistic mood on stock markets on Friday.

Pfizer shares rose 1% while those of BioNTech were 6% higher before the bell.