Pfizer Stock Price, News & Analysis

Pfizer (NYSE:PFE) has initiated the Phase 2 MagnetisMM-3 study of elranatamab, a novel bispecific antibody targeting B-cell maturation antigen in patients with relapsed/refractory multiple myeloma. The trial aims to assess the efficacy and safety of the drug, with an estimated primary completion date of June 2022. Elranatamab has received Fast Track Designation from the FDA, which accelerates its development process. Early Phase 1 results indicate promising response rates, with 83% of patients responding at the highest dose. This development is crucial for multiple myeloma treatment.

Pfizer (NYSE: PFE) and BioNTech have secured an agreement with the European Commission to supply an additional 200 million doses of their COVID-19 vaccine, COMIRNATY^®. This agreement complements a previous commitment of 300 million doses for 2021. The total expected supply could reach 600 million doses by year-end, with 75 million anticipated in Q2. Pfizer aims to vaccinate at least 250 million Europeans by the end of 2021. Both companies are ramping up production capabilities to meet rising global demand for vaccines.

Pfizer Inc. (NYSE: PFE) has received FDA approval for its supplemental Biologics License Application for PANZYGA^®, an intravenous immunoglobulin treatment for chronic inflammatory demyelinating polyneuropathy (CIDP) in adults. This approval introduces additional maintenance dosing options, enhancing treatment customization for patients. The approval follows positive results from a Phase 3 study involving 142 patients, showing an 80% response rate with the 1.0 g/kg dose. PANZYGA is also noted for its favorable safety profile, with common side effects including headache and fever.

Pfizer (NYSE: PFE) announced a U.S. Patent Term Extension (PTE) for IBRANCE® (palbociclib), extending U.S. Patent No. RE47,739 until March 5, 2027. The extension, granted under the Drug Price Competition and Patent Term Restoration Act of 1984, will be listed in the FDA's Orange Book. IBRANCE is an oral CDK 4/6 inhibitor used for treating HR+, HER2- advanced or metastatic breast cancer, approved in over 100 countries and prescribed to more than 350,000 patients worldwide.

Pfizer Inc. (NYSE: PFE) announced its 2020 financial results, with Q4 revenues up 12% to $11.7 billion, driven by operational growth from various therapeutic areas, including a notable 23% growth in Oncology. Full-year revenues reached $41.9 billion, a 2% increase over 2019. The company raised its 2021 guidance, projecting revenues of $59.4 to $61.4 billion, largely attributed to the COVID-19 vaccine BNT162b2, expected to generate approximately $15 billion in revenue. Pfizer’s Adjusted Diluted EPS for 2021 is guided at $3.10 to $3.20, reflecting a 42% increase compared to 2020.

Phoenix Venture Partners LLC (PVP) has successfully closed its latest venture capital fund, PVP III LP, at the end of 2020, which was oversubscribed. The fund attracted sophisticated financial institutions, family offices, and multinational corporations, including Pfizer (PFE) and Corning (GLW). PVP is recognized for its strong returns in Advanced Materials and Device investing, and the new fund aims to invest in innovative startups globally. Managing General Partners expressed satisfaction with the investor interest and commitment amid global challenges.

Pfizer (NYSE: PFE) reported co-primary endpoint results from the ORAL Surveillance study, evaluating the safety of tofacitinib in rheumatoid arthritis patients aged 50 and older with cardiovascular risk factors. The study found that the prespecified non-inferiority criteria for major adverse cardiovascular events (MACE) and malignancies were not met for tofacitinib compared to TNF inhibitors. A total of 4,362 subjects were treated, with 135 experiencing MACE and 164 malignancies. Pfizer is collaborating with the FDA to analyze full study results, which are forthcoming.

Pfizer Inc. (NYSE: PFE) and EMD Serono announced that the European Commission approved BAVENCIO® (avelumab) for first-line maintenance treatment of adult patients with locally advanced or metastatic urothelial carcinoma (UC) who are progression-free following platinum-based chemotherapy.

BAVENCIO is the only immunotherapy shown to improve overall survival in advanced bladder cancer. In the JAVELIN Bladder 100 trial, the treatment significantly increased median overall survival to 21.4 months compared to 14.3 months for best supportive care alone. This approval marks a significant step in cancer treatment.

Pfizer and BioNTech SE have secured an advance purchase agreement with COVAX for up to 40 million doses of their COVID-19 vaccine, aimed at equitable distribution. The doses will be supplied throughout 2021, with the first expected in Q1, 2021. This initiative supports 92 low-income countries, ensuring access at a not-for-profit price. Both companies emphasize their commitment to providing affordable vaccines globally, aimed at combating the pandemic. The financial specifics of the agreement remain undisclosed.