Pfizer, BioNTech Say Second Coronavirus Vaccine Shows Fewer Side Effects Than Their First Candidate

Pfizer Inc PFE, and its partner BioNTech SE BNTX, announced positive results for the Phase 1 trial of their second COVID-19 vaccine candidate, stating that the latest vaccine candidate had fewer side effects than their first.

What Happened

The second vaccine candidate called BNT162b2 or B2 is already in advanced trials and its administration was well tolerated in the trial participants across the age spectrum, according to a statement released by the two companies Thursday. 

The companies said 332 people participated in the clinical trial, who were administered either the latest vaccine or the first called BNT162b1 or B1.

The recipients of the B2 candidate reported fewer side effects related to the vaccine, with such adverse events reported 16.7% of the time. In the case of B1, the adverse events occurred 50% of the time, according to the drugmakers.

Some data from a large study of the B2 candidate may be available as early as October, reported Stat.

Why It Matters

Barclays analyst Carter Gould maintained an Equal-weight rating with a $35 price target on Pfizer last month, in anticipation of updates on the drugmaker's lead B2 vaccine candidate.

The New York-based pharmaceutical giant plans to charge $39 per course for its vaccine in the United States and developed countries. 

CEO Albert Bourla said in July that such countries “will not receive a lower price for the same volume commitment than the U.S.”

Moderna Inc's MRNA vaccine candidate is seeing mid-to-late stage clinical trials, and Johnson & Johnson JNJ is expected to begin the advanced-stage trials for its candidate next month.

Price Action 

Pfizer shares closed nearly 1.2% higher at $38.72 on Thursday and gained another 0.46% in the after-hours session.

BioNTech shares closed almost 1% higher at $66.27 on the same day and rose another 1.09% in the after-hours session.