By Dhirendra Tripathi
Investing.com – Shares of BioNTech (NASDAQ:BNTX) and Pfizer (NYSE:PFE) were weaker during Tuesday’s premarket trading as a study from Israel pointed at their vaccine losing effectiveness in preventing COVID-19 and symptomatic cases in recent weeks.
BioNTech stock was down over 5% and Pfizer stock was down 0.6%.
The vaccine continues to provide a strong shield against severe Covid-19, according to Israel government data.
The messenger RNA-based vaccine developed by the two companies has been one of the most effective against all the anti-Covid drugs brought to market so far.
Its success rate in protecting people against illness fell to 64% of people between June 6 and early July, down from a previous 94%, according to the stud. The drop was observed as the delta variant was spreading in Israel, the Health Ministry said. It also coincided with the lifting of virus restrictions at the start of June.
Despite the indications of increased infections, the data still showed the shot is protecting people from severe illness. Its effectiveness at preventing hospitalization fell only to 93%, according to the Health Ministry, compared with at least 97% in an earlier government study, still very effective in such cases.
Delta, which first emerged in India, is spreading around the globe as governments race to inoculate people. The mutation has forced some countries to delay or rethink plans to loosen curbs on businesses, activity and travel.