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Shares in US pharmaceutical firm Pfizer are trading almost 1% higher pre-market on Wednesday.
Pfizer and its German partner BioNTech have been working on a COVID vaccine.
They have recently announced that they could be the first to find out whether their vaccine works.
Pfizer Trials Moving Quickly
The two companies have been running clinical tests on a group of 44,000 patients and have so far seen only 32 infections occur.
Pfizer announced that it has given itself four chances to achieve a preliminary result before attaining its target amount of 164. Other companies such as Moderna inc and AstraZeneca are also conducting trials of their own.
However, Pfizer’s appears to be moving at a faster pace, giving them an advantage over their rivals.
On an investor call on Tuesday, Pfizer said that participants in its trial were showing mild-to-moderate side effects when dosed with either its candidate vaccine or a placebo drug.
The company also noted that 12,000 of the 44,000 study group had be...
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