The prices of oil has been rising since Pfizer and Biontech announced that their vaccine candidate against Covid-19 achieved success in first interim analysis from phase 3 study.
The price of Brent Crude Oil has risen 9.14% to $43.48 at the time of this report, while that of WTI (West Texas Intermediate) has risen 10.08% to $41.27.
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Just a week ago, as Europe was heading into its second lock-down as the second wave of Covid-19 was taken hold, the prices of these two benchmark oil blends were below $38.00 at one time.
Similar momentum is being seen in European financial markets as well as the US Markets.
On the European Markets; London’s FTSE 100 is currently 5.56% up, CAC 40 in Paris is up by 8.10%, Euro Stoxx 50 is up by 6.98% and the DAX in Germany is up by 5.87%.
On the other side of the Atlantic, the US Markets opened with massive gains; the DOW reached new levels, and is now at 29,527.83 points, up by 4.25% on the day. The S&P 500 is up by 3.23% while Tech heavy NASDAQ is up by 1.53%.
In a press release on its website, Pfizer stated that its candidate vaccine was found to be more than 90% effective in preventing Covid-19 in participants without evidence of prior SARS-CoV-2 infection in the first interim efficacy analysis.
The highlights of the press release;
- Vaccine candidate was found to be more than 90% effective in preventing COVID-19 in participants without evidence of prior SARS-CoV-2 infection in the first interim efficacy analysis
- Analysis evaluated 94 confirmed cases of COVID-19 in trial participants
- Study enrolled 43,538 participants, with 42% having diverse backgrounds, and no serious safety concerns have been observed; Safety and additional efficacy data continue to be collected
- Submission for Emergency Use Authorization (EUA) to the U.S. Food and Drug Administration (FDA) planned for soon after the required safety milestone is achieved, which is currently expected to occur in the third week of November
- Clinical trial to continue through to final analysis at 164 confirmed cases in order to collect further data and characterize the vaccine candidate’s performance against other study endpoints
EW YORK & MAINZ, GERMANY–(BUSINESS WIRE)– Pfizer Inc. (NYSE: PFE) and BioNTech SE (Nasdaq: BNTX) today announced their mRNA-based vaccine candidate, BNT162b2, against SARS-CoV-2 has demonstrated evidence of efficacy against COVID-19 in participants without prior evidence of SARS-CoV-2 infection, based on the first interim efficacy analysis conducted on November 8, 2020 by an external, independent Data Monitoring Committee (DMC) from the Phase 3 clinical study.
The Phase 3 clinical trial of BNT162b2 began on July 27 and has enrolled 43,538 participants to date, 38,955 of whom have received a second dose of the vaccine candidate as of November 8, 2020. Approximately 42% of global participants and 30% of U.S. participants have racially and ethnically diverse backgrounds.
The trial is continuing to enroll and is expected to continue through the final analysis when a total of 164 confirmed COVID-19 cases have accrued. The study also will evaluate the potential for the vaccine candidate to provide protection against COVID-19 in those who have had prior exposure to SARS-CoV-2, as well as vaccine prevention against severe COVID-19 disease.
In addition to the primary efficacy endpoints evaluating confirmed COVID-19 cases accruing from 7 days after the second dose, the final analysis now will include, with the approval of the FDA, new secondary endpoints evaluating efficacy based on cases accruing 14 days after the second dose as well.
The companies believe that the addition of these secondary endpoints will help align data across all COVID-19 vaccine studies and allow for cross-trial learnings and comparisons between these novel vaccine platforms. The companies have posted an updated version of the study protocol at https://www.pfizer.com/science/coronavirus.
Based on current projections we expect to produce globally up to 50 million vaccine doses in 2020 and up to 1.3 billion doses in 2021 – Pfizer Inc.
Pfizer and BioNTech plan to submit data from the full Phase 3 trial for scientific peer-review publication.
The shares of Pfizer is up by 6.43% on the New York Stock Exchange at the time of this report, while the shares of BionTech SE is up by 10.10%.
By; Nnamdi M.
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