Pardes Biosciences rises after positive data from Pfizer's COVID-19 pill

Pardes Biosciences

18/01/2022 17:44

** Shares of COVID-19 antiviral pill developer Pardes
Biosciences  PRDS.O  up ~3.5% at $14.4 
    ** Pfizer Inc's  PFE.N  says lab studies show its COVID-19
antiviral pill, Paxlovid, is effective against the Omicron
variant of the coronavirus  urn:newsml:reuters.com:*:nFWN2TY0PQ
     ** Pardes also developing an oral COVID-19 antiviral drug
candidate, PBI-0451  urn:newsml:reuters.com:*:nL1N2T619T
    ** Brokerage Jefferies says PFE's data is a positive for
PRDS since both drugs work similarly
    ** "There was some investor discussion if Omicron could
reduce potency for these novel oral pills for COVID, but new PFE
disclosures today seems to mostly remove this risk" - Jefferies
    ** Potential data from a mid-to-late stage trial of PBI-0451
expected in 2023; could bring in multi-billion dollars in sales,
not reflected in current co's $1 bln market cap - brokerage  

 (Reporting by Manojna Maddipatla in Bengaluru)
 ((manojna.kalyani@thomsonreuters.com; +91  8061822700;))