11/9/2020, 12:51 PM (Source: TeleTrader)
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Pfizer's vaccine shows 90% effectiveness in late-stage trial

A COVID-19 vaccine developed by Pfizer Inc and BioNTech SE has proved itself effective in preventing the infection in more than 90% of the cases, the companies unveiled on Monday citing the results of the first interim efficacy analysis conducted during the third phase of the jab's trial.

The results show that the protection against the coronavirus is achieved some 28 days after the start of the vaccination process, the companies said in a joint statement, while stressing that the final vaccine efficacy may vary.

"Today is a great day for science and humanity. The first set of results from our Phase 3 COVID-19 vaccine trial provides the initial evidence of our vaccine's ability to prevent COVID-19," Pfizer's CEO Albert Bourla asserted, while BioNTech CEO Ugur Sahin called the findings a "victory for innovation, science and a global collaborative effort."

Stocks of both pharmaceutical firms rose sharply in the premarket trading, with Pfizer's shares soaring 9.62% to sell for $40.58, and BioNTech surging 23.89% to go for $113 at the same time.

Baha Breaking the News (BBN) / BU