Pfizer, a US pharmaceutical company, revealed encouraging updates today regarding its COVID-19 vaccine development progress. In a recent study involving 45 participants, the experimental vaccine was given in doses of 10, 30, or 100 micrograms, while some received placebos for comparison. After 28 days, 25% of those who received the 10 or 30 microgram doses developed neutralizing antibodies against the virus at levels surpassing those naturally acquired by COVID-19 survivors.
Kathrin Jansen, Pfizer’s head of vaccine research and development, expressed optimism about these preliminary results. She stated, “We are pleased with the clinical data of BNT162b1, one of our four mRNA constructs under evaluation, with positive initial findings. Our commitment to developing potentially revolutionary vaccines and treatments remains strong, especially in response to the current global health crisis.”
Following these positive developments, Pfizer’s stock surged by 4% on Wednesday morning as investors reacted favorably. Despite ongoing COVID-19 outbreaks in various parts of the US, the financial markets are demonstrating resilience. The economy shows signs of improvement, with approximately 2 million new jobs being created nationwide, marking the beginning of recuperation from recent job losses.
Nevertheless, investors are cautious about the escalating infection rates, particularly in densely populated regions such as Texas and California.
Founder of Sevens Report, Tom Essaye, highlighted the market’s recent advancement and the challenges posed by rising COVID-19 cases. “We have witnessed significant market growth in the second quarter, largely fueled by optimistic trends,” Essaye remarked. He continued, “However, the increasing virus cases will likely delay the economic recovery, and markets need to factor in this scenario. We might observe a stabilization or further decline in the market as a result.”
