By Michael Ge
The stocks of several pharmaceutical and biotechnology companies rose after they announced the successes of their COVID-19 vaccine trials. And some have already submitted them for emergency approval from the FDA. These vaccines have been considered to be at least 90% effective. The stocks and investors of these companies will have obviously benefited financially as a result of these announcements.
Stocks of the pharmaceutical company Pfizer and its biotechnology partner BioNTech have shown a sharp increase after its announcement of a vaccine on November 9th. The vaccine is an mRNA candidate named BNT162b2. The two submitted an emergency approval request on November 20th. The value of Pfizer’s stock increased from 34.48 points on November 6th to 36.70 on November 9th. BioNTech’s stock increased from 92 points on November 6th to 104.80 points on November 9th showing an even bigger increase than Pfizer’s stock.
Stock of the biotechnology company Moderna has increased after it announced its results from the conclusion of its trial on November 16th. Its stock increased from 89.39 points on the 13th to 97.95 points on the 16th. Moderna is the second company after the partnership of Pfizer and BioNTech to announce the successful results of its vaccine trials.
Officials are hoping that Americans can start receiving vaccines to COVID-19 come sometime in December, with medical professionals and the elderly receiving the vaccine first. With the United States nearing 250,000 deaths from COVID-19 at the time of writing, a vaccine is needed desperately.
