Vaccine stocks Pfizer and BioNTech edged higher Monday after the companies said their three-dose Covid vaccine was more than 80% effective in toddlers and infants.
Researchers tested the vaccine in children between the ages of 6 months and under 5 years old. The shot is one-tenth the dosage given to older children and adults. It proved 80.3% effective in nearly 1,700 children while the omicron variant remained dominant.
And Evercore ISI analyst Umer Raffat says it could have a leg up on Moderna. Moderna has asked the Food and Drug Administration to sign off on its two-dose vaccine in children six months to six years old. It uses a higher dose and was 37%-51% effective in an analysis during an omicron wave.
"With Pfizer checking the box on (effectiveness), it may have a tolerability advantage favoring the lower dose," Raffat said in a report to clients.
On today's stock market, vaccine stocks rose slightly. BioNTech stock lifted 0.1% to 163.22. Pfizer stock inched 0.8% higher to 52.88. Moderna shares advanced 1% to 137.62.
Vaccine Stocks: Submissions Coming
In the study, children received the third dose at least two months following the second. At this time, omicron was the dominant variant. Researchers compared the results to two doses of the original shot in people age 16-25.
Importantly, the three-dose vaccine was as effective in both younger groups — 6 months to under 2 years old and 2 years to under 5 years old — as it was in teens and young adults.
Evercore's Raffat notes this is important because the older group didn't meet that bar when they got a two-dose vaccine — news that sent vaccine stocks falling earlier this year.
"Overall, this regimen should be (authorized) fairly soon," he said.
In a written statement, BioNTech Chief Executive Ugur Sahin said the companies will ask the FDA to authorize the shot "this week," and are planning submissions in Europe and to other agencies "within the coming weeks."
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
