Pfizer, BioNTech Shares Climb Following U.K. Vaccine Approval
By Matt Grossman
Pfizer Inc. and BioNTech shares climbed in premarket trading
Wednesday morning following the companies' receipt of an
emergency-use authorization in the U.K. for their jointly created
Pfizer shares rose about 4% to $40.97. BioNTech American
depositary receipts traded 7.6% higher at $122.63.
The U.K. authorization follows clinical trials that have showed
the vaccine to be 95% effective at preventing symptomatic Covid-19,
according to the companies. The vaccine uses a new technology based
on messenger RNA to trigger the immune system to guard against
infection with the coronavirus.
The Food and Drug Administration is considering the vaccine for
a similar authorization in the U.S. It could be approved in the
U.S. before the end of the year.
The U.K. said it will use its initially limited supply of the
Pfizer and BioNTech product to begin vaccinating nursing-home
residents and staff.
Write to Matt Grossman at firstname.lastname@example.org
(END) Dow Jones Newswires
December 02, 2020 07:04 ET (12:04 GMT)
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