The pharmaceutical company, Pfizer Inc today said they are not ready to submit data from the final trial of the Covid-19 vaccine candidate it is developing with BioNTech SE Germany.
Pfizer CEO Albert Bourla said that the party that would determine whether or not the experiment was successful had not yet analyzed the effectiveness of the vaccine.
As a result, its stock was unchanged at $ 37.93 before the opening session of the trading session.
Earlier, US President Donald Trump said the vaccine would be completed before the November 3 election, but in recent weeks his administration has stressed that one vaccine will be ready this year.
As such, Pfizer hopes to become the first U.S. drug manufacturer to succeed in the final Covid-19 vaccine trial, ahead of rival Moderna Inc. Pfizer and BioNTech launched 44,000 third-phase studies of their vaccine candidates by the end of July.
Meanwhile, monitors are scheduled to make a first assessment of vaccine performance after 32 participants in the trial were infected with a coronavirus novel.
In addition, Pfizer reported quarterly earnings beating an estimated one cent, aided by sales of its cancer drug Ibrance which was better than expected. Overall sales allegedly fell 4.3% in the third quarter, followed by a drop in off-patent drug sales, Lyrica, with sales of $ 500 million due to the Covid-19 pandemic.
Ibrance cancer sales rose 6% to $ 1.36 billion, beating analysts ’estimates, despite increased competition from Eli Lilly’s Verzenio. Excluding items, Pfizer earned 72 cents per share, beating analyst estimates by 71 cents per share.
