Please ensure Javascript is enabled for purposes of website accessibility

Pfizer Says It Has Over 50% Enrollment for Coronavirus Vaccine Candidate Trial

By Eric Volkman – Aug 26, 2020 at 3:49PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

This means the company managed to recruit a few thousand phase 3 trial participants over the last week or so.

One of the leading COVID-19 vaccine candidates currently in development is getting closer to a potential finish line. Pfizer (PFE -0.72%) said on Wednesday that the recruitment for the crucial U.S. phase 3 clinical trial of its BNT162b2 is more than 50% complete. The company is aiming to recruit 30,000 individuals for the trial.

The news was reported by Pfizer vaccine research and development scientist Dr. Nicholas Kitchin at a meeting of the Centers for Disease Control and Prevention's Advisory Committee on Immunization Practices.

A medical professional writing on a clipboard with a patient in the background

Image source: Getty Images.

BNT162b2, which Pfizer is developing in collaboration with Germany's BioNTech (BNTX -0.90%), is one of only a handful that is about to advance to phase 3 testing. Enrollment seems to be proceeding quickly; last week, the company said it had recruited over 11,000 individuals. At this pace, enrollment could be complete within only a few more weeks.

The company is confident it can recruit and conduct the late-stage trial quickly and effectively. Pfizer CEO Albert Bourla said in an Aug. 6 interview with The Washington Post that his company could start seeking regulatory approval for BNT162b2 as early as October; that, of course, assumes that the vaccine candidate proves to be efficacious in a relatively fast-moving late-stage trial.

The company has made arrangements with manufacturing partners to make the vaccine, if it is successful in the phase 3 trial and subsequently receives approval from major regulators. In July, Pfizer and BioNTech contracted with the U.S. government to supply up to 600 million doses.

Despite the positive news about BNT162b2, both Pfizer and BioNTech were down in midafternoon trading on Wednesday, in contrast to the gains of the wider market. Pfizer stock was off by 1.1%, while BioNTech had slumped 4.5%. 

Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Pfizer Inc. Stock Quote
Pfizer Inc.
$44.11 (-0.72%) $0.32
BioNTech SE Stock Quote
BioNTech SE
$132.59 (-0.90%) $-1.20

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 09/29/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.