Pfizer had a very important day today when they announced top-line results from a Phase 3 study looking into one of its flagship products. Today, we'll talk about the data, how the market reacted to the news, what we can expect to see moving forward, and how binary options traders can take advantage of the trends. So, let's get right to it.
Pfizer Announces Top-Line Phase 3 Results
As mentioned above, today was a big day for Phizer as the company announced top-line results from the second Phase 3 study of tofacitinib. The treatment is being investigated for patients with active psoriatic arthritis, also known as PsA. The patients involved in the study suffered from PsA and have had an inadequate response to at least one tumor necrosis factor inhibitor. The study known as OPAL far surpassed its primary efficacy endpoints, demonstrating an incredibly significant statistical improvement with tofacitinib 5 mg BID and 10 mg BID compared to the placebo. In a statement, Michael Corbo, Category Development Lead in the Inflammation and Immunology department of Pfizer's Global Innovative Pharmaceuticals Business had the following to say…
“There is a significant need for additional PsA treatment options as many people living with the condition do not respond well to available therapies… The positive results of both Phase 3 PsA studies, OPAL Broaden in DMARD-IR patients and OPAL Beyond in TNFi-IR patients, demonstrated that tofacitinib, if approved, may have potential to be an important treatment option to help address unmet medical neads for patients with PsA.”
How The Market Reacted To The News
As investors, we know that the news moves the market. Any time positive news is released with regard to a publicly traded company, we can expect to see gains in the value of the stock associated with that company as a result. On a normal day in the market, the news that was released with regard to Pfizer would have generally caused the stock to edge upward, and while it worked on heading that way, it's simply not what happened. Unfortunately, today has been an incredibly bad day for the biotechnology sector, and Pfizer is not immune. As a result, the stock is currently (4:00) trading at $34.84 per share after a loss of $0.09 per share or 0.26% thus far today.
What We Can Expect To See Moving Forward
While today was a bad day for the healthcare sector overall, the news that was released by Pfizer was overwhelmingly positive. As a result, I'm expecting to see a positive reaction from that news as early as tomorrow. Nonetheless, regardless of what happens in the short term, Pfizer is a company that I'm expecting to see long run gains from. The company has built an incredible name in the biotechnology sector and now has yet another treatment that's getting close to approval. Overall, I'm expecting to see strong upward movement moving forward.
How Binary Options Traders Can Take Advantage Of The Trends
As binary options traders, our job is to spot and capitalize on trends. When it comes to Pfizer, chances are that the overall trend moving forward will be upward. So, binary options traders should be watching for strong call option opportunities in order to ride the trends up to the top.
What Do You Think?
Where do you think Pfizer is headed moving forward and why? Let us know your opinion in the comments below!
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