Great News: Vaccine for COVID-19
Posted: Thu Jul 23, 2020 9:56 am
From Bank of America Equity Research on July 22:
US agreement a positive sign for Pfizer’s program
Pfizer this morning announced a deal with the US government for $1.95B to supply 100M doses for its partnered mRNA -based vaccine (BNT162) for COVID-19. We think this is a very positive sign for the pandemic decelerating especially since the US government has the optionality to acquire an additional 500M doses if needed (600M total ; assuming a 2-dose regimen could cover 90%+ of US population); Americans will receive the vaccine for free. While phase 1 data were positive and immune responses encouraging, we don’t see these programs as fully de-risked and expect additional data to mature as phase 3 trials get underway. Indeed, Pfizer remains on track to begin a phase 2b/3 trial later this month with regulatory review as early as October 2020.
If this opens up the economy, oil prices will rise rapidly in 2021.
US agreement a positive sign for Pfizer’s program
Pfizer this morning announced a deal with the US government for $1.95B to supply 100M doses for its partnered mRNA -based vaccine (BNT162) for COVID-19. We think this is a very positive sign for the pandemic decelerating especially since the US government has the optionality to acquire an additional 500M doses if needed (600M total ; assuming a 2-dose regimen could cover 90%+ of US population); Americans will receive the vaccine for free. While phase 1 data were positive and immune responses encouraging, we don’t see these programs as fully de-risked and expect additional data to mature as phase 3 trials get underway. Indeed, Pfizer remains on track to begin a phase 2b/3 trial later this month with regulatory review as early as October 2020.
If this opens up the economy, oil prices will rise rapidly in 2021.