PFE Pfizer Inc

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 Covid-19 vaccine.

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 matt.grossman@wsj.com

(END) Dow Jones Newswires

December 02, 2020 07:04 ET (12:04 GMT)

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