Pfizer's Lorbrena Shows 55% 7-Year PFS in NSCLC; EU Clears Pediatric COVID Vaccine Dose
PFE is trading near its 52-week low of $23.06 (13% above the low).
Summary
Pfizer announced strong 7-year progression-free survival data for its advanced NSCLC drug, Lorbrena, with 55% of patients remaining progression-free and median PFS not yet reached. Concurrently, the EU granted clearance for a 10 µg pediatric dose of its COVID vaccine for children aged 6 months to 11 years. The Lorbrena data significantly reinforces the drug's long-term efficacy and strengthens Pfizer's oncology pipeline. The EU approval expands the market for its COVID vaccine. These positive product developments follow the company's strong Q1 earnings and share repurchase program announced earlier in May.
At the time of this announcement, PFE was trading at $26.14 on NYSE in the Life Sciences sector, with a market capitalization of approximately $149.2B. The 52-week trading range was $23.06 to $28.75. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.