Pfizer posts biggest intraday gain this year after FDA meeting on booster shots
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After a meeting convened by the FDA to obtain expert views on booster shots, Pfizer (NYSE:PFE) recorded the best intraday gain since December on Thursday, leading its own COVID-19 vaccine partner BioNTech (NASDAQ:BNTX) and the rival shot maker, Moderna (NASDAQ:MRNA).
At the meeting held yesterday, the panelists discussed how to form a long-term strategy for COVID-19 vaccinations, including strain selection for updated vaccines and data needed to support their authorizations.
Following the meeting, Cantor Fitzgerald wrote that the discussions looked favorable for the sustainability of the COVID-19 vaccine market and "particularly for "vaccine of choice" players like Pfizer (PFE).â
Since its authorization in December 2020, Pfizer (PFE)/BioNTech (BNTX) vaccine remains the most widely used COVID-19 shot in the U.S., followed by Moderna (MRNA) vaccine.
âFDA's prioritization of staying ahead of future variants/outbreaks and interest in coordinating efforts with manufacturers in a unified approach on future vaccine strain recommendations are positive for more flexible, adaptive technologies like mRNA,â the analyst Louise Chen wrote.
Both Pfizer (PFE)/BioNTech (BNTX) and Moderna (MRNA) COVID-19 vaccines are based on mRNA technology which teaches the human cells to fight the virus without the involvement of a vector, as seen in more traditional approaches.
On Thursday, Moderna (MRNA) shares rebound after falling for three consecutive sessions, as healthcare stocks dominated the S&P 500.