Stock Alert: Pfizer Climbs 12% As COVID-19 Vaccine Found More Than 90% Effective

Shares of pharmaceutical giant Pfizer Inc. (PFE) are rising more than 12 percent or $4.53 in Monday’s morning trade at $40.93.

Monday, Pfizer and German biotech firm BioNTech SE (BNTX) said that interim efficacy analysis from a Phase 3 trial of their mRNA-based coronavirus vaccine candidate, BNT162b2, showed the vaccine candidate to be more than 90 percent effective in preventing COVID-19 among patients without prior evidence of infection.

The comparison of data between vaccinated individuals and those who received the placebo indicated a vaccine efficacy rate above 90 percent, seven days after the second dose was given. This means that protection from COVID-19 is achieved 28 days after the initiation of the vaccination, which consists of a two-dose schedule.

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