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Pfizer has announced that its vaccine is 90% effective in preventing COVID-19 infection

Pfizer has announced that its vaccine is 90% effective in preventing COVID-19 infection

Late-stage trial data showed 90% effectiveness in preventing COVID-19 infection

Pfizer, alongside the German BioNTech, made a bold statement earlier today that impressed the markets.

According to the report published about their late-stage vaccine trial, their coronavirus vaccine is more than 90% effective in preventing COVID-19. The 90% effectiveness took people by storm, as scientists and researchers were hoping for a COVID-19 vaccine to be at least 75% effective.

The results came after an interim efficacy analysis that was conducted by an independent Data Monitoring Committee. The participants showed improvements one week after the administration of the second dose. Following the data, protection from COVID-19 is possible 28 days after the first vaccination. The whole procedure consists of two doses.

Even though the first results are promising, data regarding safety and various aspects of the vaccine are still being collected.

Wall Street was more than thrilled when hearing the news. USA30 surged 5.2%, while USA500 jumped 3.4%.

Sources: cnbc.com

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