VALN - Why Pfizer Stock Rose Today While the Market Tanked
Over the past few years, popular pharmaceutical company Pfizer (NYSE: PFE) has proven to be a resilient stock during market downturns. That happened on Tuesday when the shares eked out a slight gain as the S&P 500 suffered a nearly 3% decline. Investors were cheered by some good news emanating from the laboratory.
Pfizer and its partner, vaccine-focused biotech Valneva (NASDAQ: VALN) , unveiled data from the phase 2 pediatric clinical trial of VLA15, their Lyme disease vaccine candidate. The data indicates that the recipients, who were ages 5 to 17, experienced a more immunogenic response than adults receiving the jab. The vaccine was safe and well-tolerated by the recipients; no related serious adverse events were observed.
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Why Pfizer Stock Rose Today While the Market Tanked