U.S. pharmaceutical giant Pfizer (NYSE:PFE) and German biotech firm BioNTech (NASDAQ:BNTX) announced Monday their coronavirus vaccine was more than 90% effective in preventing Covid-19 among those without evidence of prior infection, hailing the development as "a great day for science and humanity."
It comes as drugmakers and research centers around the world scramble to deliver a safe and effective vaccine in an attempt to bring an end to the coronavirus pandemic that has claimed over 1.25 million lives worldwide.
Scientists are hoping for a coronavirus vaccine that is at least 75% effective, while White House coronavirus advisor Dr. Anthony Fauci has previously said one that is 50% or 60% effective would be acceptable.
The results were based on the first interim efficacy analysis conducted by an external and independent Data Monitoring Committee from the phase three clinical study. The independent group of experts oversees U.S. clinical trials to ensure the safety of participants.
The analysis evaluated 94 confirmed Covid-19 infections among the trial’s 43,538 participants. Pfizer and BioNTech said the case split between vaccinated individuals and those who received a placebo indicated a vaccine efficacy rate of above 90% at seven days after the second dose.
It means that protection from Covid-19 is achieved 28 days after the initial vaccination, which consists of a two-dose schedule.
The final vaccine efficacy percentage may vary, however, as safety and additional data continue to be collected.
PFE shares grew $2.31, or 6.4%, to $38.71, while those for BNTX climbed $10.78, or 11.7%, to $102.78.
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