BioNTech SE (BNTX), Pfizer (PFE) Lower as Bernstein Says Delay in COVID Vaccine Trial Read-Out 'Raises Concern'

BioNTech SE (NASDAQ: BNTX), Pfizer (NYSE: PFE) shares are on watch as Bernstein analyst Vincent Chen MD discussed on CNBC that the delay in the COVID-19 vaccine trial results from the partners could suggest poor results.

Chen noted that Pfizer management said in the past that they would expect to know in October if their Covid vaccine works. Chen highlights that we are now in the last week of October, with still no data announced.

In an earlier note to clients, Chen said they estimate Pfizer / BioNTech likely have two interim analyses in October, one likely mid-October, another likely late-October.

"We're now well past when we would have expected the first analysis to occur," Chen said. "This raises concern that maybe the 1st interim missed. If true, this would be an incremental datapoint pointing to lower vaccine efficacy."

PFE is down 1.5%, while BNTX is down 7%.

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