Pfizer Inc (PFE Stock) news: Another surge as FDA documents reveal early look at COVID-19 vaccine approval

NYSE:PFE gains 3.18% as financial markets finish Tuesday on a high note.
The FDA has posted documentation ahead of its Thursday meeting that points to vaccine approval.
The US agency has also released some efficacy data with regards to a single versus double dose of the vaccine.

NYSE:PFE climbed for a second straight day as investor optimism continues to build ahead of the FDA’s meeting on Thursday to discuss Emergency Use Authorization for Pfizer’s COVID-19 vaccine candidate: BNT162b2. Pfizer added 3.18% and closed Tuesday’s trading session up at $42.56 after briefly touching a new 52-week high of $42.77. Pfizer’s partner BioNTech (NASDAQ:BNTX) also rose for the second straight trading day, as it also hit a new 52-week high of $129.90 on Tuesday.

The global financial markets ended the day on a high note as the FDA posted documents that seemed to imply that Pfizer’s COVID-19 vaccine would be approved after its meeting on Thursday. This is just for the United States, though, as elsewhere in the world today, the very first doses of Pfizer’s coronavirus vaccine were administered in the United Kingdom. The world is watching and hoping that this is just the first step towards eradicating the COVID-19 pandemic, and Pfizer is front and center.

PFE stock price forecast

The FDA also released the clinical trial data for BNT162b2, which showed that for full efficacy, both doses truly are needed. There was some earlier confusion about how effective the doses were if only a single dose was administered, and now this data backs this up as a single dose will only have about a 52.4% efficacy rate. This is of course one thing that is not usually taken into account as an order of 100 million doses, will actually only treat 50 million people.

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