Pfizer shocks rivals with COVID-19 pills
The emergence of COVID-19 pills and concerning outlook for vaccine makers dominated healthcare headlines this week amid a flurry of earnings reports. Yet, with an over twofold rise in value, a clinical-stage Alzheimer’s drug developer outshone them all.
However, pressure on vaccine makers dragged down the healthcare sector, making it the worst-performing sector in the $S&P 500 Index(.SPX.US$last week. After three consecutive weeks of gains, health stocks dropped ~0.7% as a whole, while the broader index climbed ~2.0%.
Among stocks with more than $2B market capitalization and over 100K average daily volume over the past five sessions, $Cassava Sciences(SAVA.US$dominated with a gain of ~110.8%. Its shares surged Thursday after the biotech highlighted the data integrity of a peer-reviewed article that was the basis of its experimental Alzheimer’s drug, simufilam.
Despite a late selloff, $iRhythm Technologies(IRTC.US$climbed ~49.6% buoyed by favorable Final reimbursement rates published by the Centers for Medicare & Medicaid Services (CMS) for 2022. iRhythm shares had come under pressure early this year amid concerns over the reimbursement rates for its ECG monitoring devices.
$IGM Biosciences(IGMS.US$added ~33.7%, thanks mainly to an upgrade issued by Wedbush citing an upcoming data readout for the company early-stage asset for B-Cell Malignancies, IGM-2323. While $Arrowhead Pharmaceuticals(ARWR.US$surged ~26.5% during the week, driven by better than expected Q3 financials, $Apollo Medical(AMEH.US$closely followed up with a ~25.3% rise.
Notable gainer: The clinical-stage biopharma company, $ABVC BioPharma(ABVC.US$, started the month on a strong note rising as mush as 930% in the pre-market on Monday amid online chatter. While meme buzz appeared to wane, as the stock closed the week only ~47.6% higher, it was the hottest new healthcare stock followed by Seeking Alpha users this week with over 59 new additions for every removal.
The first regulatory win secured by $Merck & Co(MRK.US$for its COVID-19 pill and promising data posted by $Pfizer(PFE.US$or a rival medicine for the disease sent shockwaves across the biotech world, not least the established makers of vaccines and intravenously-given antibody therapies.
While $Adagio Therapeutics(ADGI.US$, a recently IPO’ed developer of a COVID-19 antibody treatment, led the decliners with a drop of ~31.5% over the week, $Moderna(MRNA.US$plunged ~31.4%. Coming close on the heels of a lowered outlook for 2021, the latest sign of a fast-approaching oral remedy for the pandemic, dethrone the leading COVID-19 vaccine maker as the best performing stock in the S&P 500 this year.
$BioNTech(BNTX.US$, the German partner of Pfizer in its COVID-19 vaccine, shed ~22.3%, while $Vir Biotechnology(VIR.US$, the manufacturer of Sotrovimab antibody therapy for the disease, lost ~17.2%. Rounding out the top five decliners this week, life sciences company $Maravai LifeSciences(MRVI.US$witnessed a late selloff to end ~17.2% lower ahead of its quarterly earnings next week.
Notable decliner: Notwithstanding the much-awaited international recognition secured by its partner for a COVID-19 vaccine, $Ocugen(OCGN.US$slipped ~13.5% this week. For those who considered the World Health Organization (WHO) authorization as a major endorsement for the COVID-19 shot the company intends to commercialize in the U.S, it is a shocking reversal as the stock pared the ~42.3% gain recorded last week.
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jack the giantkiller : They’re pill won’t work! It’s a futile attempt to hold market share. Very expensive and not. Effective
Dogoro777 : Covid is far more serious than the flu so it should be expected than there are more deaths from Covid. The obvious is sometimes right under our noses!
Aaron_Kelly : Just like flu vaccine, people will want to get COVID vaccine.
Austin ONeill : Reports of adverse events compared between flu vaccine and Covid vaccine:
Kieron Morley : Lol not many want to get boosters every year dude are u serious
William Paul : This came out November 2, 2021, why is the media ignoring it?
Covid-19: Researcher blows the whistle on data integrity issues in Pfizer’s vaccine trial
Bull Run : Ppl will go for low cost vaccines rather than pay costly pills, only those rich one don't mind paying.
Alaness : Ok Stocks and money aside I just need to clarify And educate everyone on The sci. The pill Pfizer made is a Treatment which means it’s only for use when u contracted covid and your symptoms are severe. It’s is not a Vaccination. Vaccination helps ur body Build resistance towards the virus so u can reduce these Britt of the symptoms but again due to the evolution of covid to delta and not even a delta plus is out, the vaccination Effectiveness has declined hence U need the booster shot. Notwithstanding, even w vaccination, some ppl still get ill and hence the covid pill is Sth u can take to recover faster and aid in reducing the symptoms further.
So again fundamentals. The pill is a treatment pill. Not a vaccination. U need both. I just feel ppl needs to be educated on the difference btw the pill and the injection. I find it very disturbing How ppl are Spreading misleading Information about the pill and the vaccination.
102084011_Muru :