Pfizer stock reversed a six-day running spree Friday after the company reported mixed test results for its Covid vaccine in young children.
An independent committee said the vaccine looked favorable in children age 6 months to 2 years. But the preliminary results don’t look as promising for children age 2 to less than 5. However, there were no safety concerns — a key consideration as the Pfizer (PFE) and BioNTech (BNTX) vaccine has been tied to heart inflammation in boys and young men.
Now, Pfizer says it plans to seek authorization for its Covid vaccine as a three-dose primary series in children age 5 and younger. That news pushes Pfizer’s timeline for vaccinating the country’s youngest people out to mid-2022. The company is also testing a third dose in children age 5-17. Early data suggest a third dose could help bolster protection against the omicron variant.
But on today’s stock market, Pfizer stock sank 2.9% to 59.48. BioNTech stock, on the other hand, rose 1.3% to 287.28.
Pfizer Stock: Three-Dose Regimen Likely
Pfizer has several dosing regimens in play. The vaccine for children age 5-11 is one-third the dose level given to older children and adults. For children under the age of 5, the vaccine is one-tenth the dosage given to older children and adults.
In the pediatric studies, Pfizer is comparing the vaccine with results for people ages 16-25. The Covid shot proved about as effective in children age 6 months to 2 years. But it didn’t meet that bar — a measure known as non-inferiority — in children age 2 to under 5.
The results sent Pfizer stock diving.
Pfizer said it is also planning to study a third dose of the same shot for children age 5 to below 12. Further, the company is planning to test two dosing levels for a third shot in teens age 12-17.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
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