6/1, 4:53 PM (Source: TeleTrader)
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Chart for: Pfizer, Inc.

Pfizer falls over 7% due to disappointing cancer drug results

Shares of Pfizer Inc fell more than 7% on Monday after the company said earlier that the results of a Phase 3 trial for its Ibrance breast cancer drug in the treatment of early-stage breast cancer were disappointing.

Pfizer stated it still believes it will manage to produce a compound annual growth rate (CAGR) of 6%, at a minimum, through 2025. However, investors were disappointed by early failure.

Pfizer fell 7.63% to $35.26 at 10:50 am ET.

Breaking the News / TF