Pfizer, BioNTech stocks rise on report FDA could fully approve COVID-19 vaccine

MW Pfizer, BioNTech stocks rise on report FDA could fully approve COVID-19 vaccine

Pfizer Inc. $(PFE)$ and U.S. shares of BioNTech SE (BNTX) rose in the extended session Friday following reports that the drug makers will likely get full Food and Drug Administration approval for their COVID-19 vaccine sometime next week.

Pfizer shares rose more than 2% after hours, following a 0.2% decline to close at $48.72, and BioNTech's ADRs rallied more than 5%, following a 5.1% gain to close at $348.68. Late Friday, The Wall Street Journal and The New York Times reported that the FDA could approve the vaccine, which up until now has been distributed on an emergency basis, as early as Monday but could possibly go past that if regulators need more time to review data. The Department of Health and Human Services recently announced that a third dose, or a booster, of the vaccine would be available in mid-September to those who already received their first two shots. Back in July, Pfizer and BioNTech reported encouraging data on a vaccine booster shot targeting the delta variant of the virus.