COVID-19 vaccine stocks surge on worries over new variant
Nov. 26, 2021 6:58 AM ET Pfizer Inc. (PFE), BNTX MRNA, NVAX, ARCT, INO, MRK, OCGN, VIR, SRNE, CTIC, BYSI, ISPC By: Mamta Mayani, SA News Editor 3 Comments
 JuSun/iStock via Getty Images
U.S. vaccine makers are trading higher premarket amid rising fears over new COVID-19 variant identified in South Africa.
Shares of Pfizer (NYSE: PFE), up 6.1% and BioNTech (NASDAQ: BNTX), jumping 7.6% also got boost after the companies' COVID-19 vaccine won EMA authorization for expanded use in children aged 5-11.
Moderna (NASDAQ: MRNA) gains 8.5% while Novavax (NASDAQ: NVAX) is higher 6.6%. Arcturus Therapeutics (NASDAQ: ARCT) is up 7.2%; Inovio Pharmaceuticals (NASDAQ: INO) +5%; Merck (NYSE: MRK) +1.5%.
In October, Moderna said its vaccine showed a strong immune response in younger children in a late-stage clinical trial. The company seeks EU nod to use COVID-19 shot in children.
The new COVID-19 variant is triggering concern about the potential for travel restrictions or other curbs. U.K. has already banned flights from South Africa, Botswana, Eswatini, Lesotho, Namibia and Zimbabwe.
Small biotech stocks also gained in premarket as investors sought havens. Stocks, Treasury yields and oil sank.
Ocugen (NASDAQ: OCGN) added 11.7%, Vir Biotechnology (NASDAQ: VIR) +10.2%, Sorrento Therapeutics (NASDAQ: SRNE) +3.7%; CTI BioPharma (NASDAQ: CTIC) rose 10.7%, BeyondSpring (NASDAQ: BYSI) +9.3%.
Tiny biotech ISpecimen (NASDAQ: ISPC) surged 58% premarket following Wednesday’s 23% slump.
The rally has followed an announcement that the U.S. government and some private researchers contracted the company to deliver human biospecimens for advanced research on COVID-19. |
