What's Going On With Pfizer On Thursday? Pharma Giant's Shares Tick Lower
Portfolio Pulse from Shivani Kumaresan
Pfizer Inc. (NYSE:PFE) shares are ticking lower after the company disclosed disappointing results from its Phase 3 CIFFREO study on gene therapy for Duchenne muscular dystrophy (DMD). The study did not achieve its primary endpoint of improving motor function in young boys. This setback adds to Pfizer's challenges as it seeks new revenue streams following the decline in sales from its COVID-19 products.
June 13, 2024 | 1:18 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Pfizer's shares are down after the Phase 3 CIFFREO study on gene therapy for Duchenne muscular dystrophy failed to meet its primary endpoint. This failure may impact Pfizer's financial forecasts and ongoing research priorities.
The failure of the Phase 3 CIFFREO study is a significant setback for Pfizer, as it impacts their efforts to find new revenue streams following the decline in COVID-19 product sales. The lack of improvement in primary and key secondary outcomes will likely affect investor sentiment and Pfizer's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100