Pfizer Begins Human Trial of Covid-19 Drug in the U.S.

Pfizer Begins Human Trial of Covid-19 Drug in the U.S.
May 6, 2020

 

Biopharmaceutical company Pfizer Inc (NYSE: PFE) has stated that it has started trialing a potential drug candidate for treating Covid-19 in the U.S. Currently, there is no FDA approved drug available for the treatment of Covid-19 and pharmaceutical companies are competing to develop a vaccine.

However, the U.S. health officials have stated that it will take between 12 and 18 months for a drug to reach the market. So far, over 3.5 million people across the globe have been infected by Covid-19, with approximately 250,000 people having lost their lives. According to WHO (World Health Organization), over 100 vaccines are currently under development, with a minimum of eight drug candidates undergoing human trials. Following the news, the stock of Pfizer gained 2.37% or $0.89 to close at $38.51.

The New York based-Pfizer, which is working in tandem with the German drug company BioNTech, stated that the first batch of human participants have been injected with the potential drug, referred to as BNT162. Notably, late last month, Pfizer started human trials of the potential vaccine for coronavirus in Germany.

Participants in the trial program include NYU Grossman School of Medicine and the University of Maryland School of Medicine. Pfizer also stated that the University of Rochester Medical Center, Rochester Regional Health and Cincinnati Children’s Hospital Medical Center would join the trial soon.

The trial drug consists of genetic material named messenger RNA, or mRNA. The mRNA is fundamentally a genetic code that directs cells to develop an antigen that may drive an immune response for the coronavirus.

To begin with, the test will be conducted on adults aged 18 to 55 years, before shifting to aged people. Pfizer hopes to trial the drug on 360 people.

Regarding the human trial, Pfizer Chairman and CEO Albert Bourla said: “With our unique and robust clinical study program underway, starting in Europe and now the U.S., we look forward to advancing quickly and collaboratively with our partners at BioNTech and regulatory authorities to bring a safe and efficacious vaccine to the patients who need it most.”

Bourla also highlighted the quick response of Pfizer with the statement below: “The short, less than four-month time frame in which we’ve been able to move from preclinical studies to human testing, is extraordinary.”

While people across the globe are eagerly waiting for a drug to reach the market, scientists have cautioned that developing, testing, and validating a potential drug is a long, cumbersome, and costly process that could even take years.

Pfizer intends to produce several “million” doses of vaccines by the end of 2020 and raise it to “hundreds of millions” of doses in 2021. Other major pharmaceutical firms that are in the fray are Moderna and Johnson & Johnson. In fact, Moderna, in partnership with the National Institutes of Health, was the first company to start a human trial in March. J&J intends to produce 600 million to 900 million doses of potential Covid-19 drug next year, in case human trials, as planned earlier, begin in September.

Following regulatory approval, BioNTech and Pfizer will work together to commercialize the drug across the globe.

The news of Pfizer beginning a human trial of a potential drug candidate for Covid-19 disease is expected to keep its stock bullish in the short-term.

Technically, the stock is rising after testing the support at 34. The next resistance is anticipated only near 43. Additionally, the stochastic oscillator is also in the bullish zone. Therefore, we are expecting the stock of Pfizer to move up in the days ahead.

pfe - technical analysis - 6th May 2020

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Andrew Wright

Prior to founding tradersasset.com in 2014, Andrew worked as a proprietary trader, then as a market maker. As a market maker, he traded options in over 100 stocks, he then began trading currency pairs in 2013. Andrew still actively trades both, and prides himself on educating and informing traders on the benefits of both Binary Options and Forex.


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