There goes Pfizer (PFE).
The stock is popping on news it’s buying ReViral – a privately held, clinical-stage biopharmaceutical company focused on discovering, developing, and commercializing novel antiviral therapeutics that target respiratory syncytial virus (RSV) for $525 million.
“Currently, treatment options for RSV are extremely limited and focus primarily on supportive care,” said Annaliesa Anderson, Ph.D., Senior Vice President and Chief Scientific Officer, Bacterial Vaccines and Hospital, at Pfizer.
“The proposed acquisition of ReViral’s pipeline of therapeutic candidates is complementary to our efforts to advance the first vaccine candidate to help protect against this harmful disease. Combining the capabilities and expertise of our organizations will enable us to further the clinical development of a potential therapy for those with RSV disease.”
It’s also pushing higher on news House speaker Nancy Pelosi tested positive a day after she visited with President Biden. In addition, COVID cases are reportedly rising again in half of the country, and there’s news Biden’s Administration will allow a second boost dose for Americans aged 50 and older.
At the moment, shares of Pfizer are up $2.16 on the day.