Vaccine stocks popped Monday after Pfizer Chief Executive Albert Bourla said a fourth Covid shot is necessary "right now."
His comments come as a wave of omicron infections prompt lockdowns in China and following the emergence of a new variant so far dubbed deltacron. Meanwhile, many U.S. states are loosening or abandoning masking requirements altogether.
But Bourla says Covid is here to stay.
"The protection that you are getting from the third (shot), it is good enough, actually quite good for hospitalizations and deaths," Bourla told CBS News' Face The Nation. But "it's not that good against infections, (and) doesn't last very long."
Vaccine stocks jumped. Pfizer shares rose 3.9% to 52.25. BioNTech stock surged 12% to 151.92. Moderna shares soared 8.6% to 150.07. Moderna also benefited after dosing the first participant in an HIV vaccine study.
Vaccine Stocks: Rapid Changes
The rapidly changing Covid landscape has made vaccine development tricky — and pressured the trio of big-name vaccine stocks.
"We try very diligently to stay ahead of the virus because many variants are coming and omicron was the first one that was able to evade in a skillful way, the immune protection that we're giving," Bourla said.
Though Covid cases are currently declining in the U.S., Bourla says the company is planning for a fourth dose to help protect against infections. Further, Pfizer hopes to launch its pediatric vaccine in May. That three-dose series would protect children ages 6 months to less than 5 years old. The back-and-forth on pediatric shots has rocked vaccine stocks.
Vaccinating children is the last piece of the Covid puzzle. Today, only children age 5 and older can get a Covid shot. Pediatric shots use a different dosage, making the testing process more difficult. If authorized in May, Bourla says "we will be ready with manufacturing."
Long-Term Protection?
Vaccine stocks have ticked down this year as investors questioned the longevity of their wares.
Bourla says the company is working on a vaccine to prevent multiple variants, including omicron. The company hopes to provide protection for a year.
"And if we be able to achieve that, then I think it is very easy to follow and remember so that we can go back to really the way used to live," he said.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
