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Why Pfizer stock fell today



what happened

Pharmaceutical giant stocks Pfizer (New York Stock Exchange: PFE) It fell as much as 5.6% on Wednesday and fell 5.3% during the trading session. Although the broader stock market is feeling the pressure of a surge in new COVID-19 cases around the world, people hope that Pfizer, as a leader in the COVID-19 vaccine race, will benefit from these developments. However, investors are impatient with Pfizer, and Pfizer has not yet released any data on its ongoing late-stage clinical trials of its coronavirus vaccine candidate BNT162b2.

So

Pfizer CEO Albert Bourla said in an interview in early September that the company hopes to know whether BNT1

62b2 is safe and effective by the end of October. Bourla reiterated this view in an open letter posted on the company’s website on October 16, while also emphasizing that efficacy data may “appear sooner or later based on changes in infection rates.” With only a few days left in the month, the drug maker has not released any data from the clinical trial to the public.

Hand fills syringe from liquid in glass bottle.

Image source: Getty Images.

Of course, this does not mean that BNT162b2 cannot be proven safe or effective. In fact, Pfizer seems to have no answer yet. Burla said on the company’s third-quarter earnings conference call: “I can say today that the data monitoring committee has not been blind to the efficacy data, nor has it conducted any mid-term efficacy analysis. But I want to make it clear that today’s earnings call , We are not going to talk about the interim analysis publicly unless we get a final conclusion from the Data Monitoring Committee.”

How to do

We don’t yet know whether Pfizer’s vaccine is effective. This fact is disappointing, and it’s not surprising to see some investors dumping pharmaceutical stocks as a result. But patience is essential. After all, Pfizer is still one of the leaders in this race, and it has signed multi-billion-dollar supply agreements with several governments. Moreover, even if BNT162b2 fails, the company’s prospects will not depend on a single vaccine. Long-term investors should focus on the company’s overall lineup and channels.




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