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Pfizer (PFE) reported positive Phase 2 study results for its Investigational Meningococcal B Vaccine. Shares dropped slightly.
The recombinant vaccine candidate is currently under development for the prevention of invasive meningococcal disease caused by Neisseria meningitidis serogroup B in 10 to 25 year olds.
Pfizer estimated about 500,000 cases of meningococcal disease occur worldwide each year due to Neisseria meningitides. Between 10 and 15 percent of those patients die, and 11 to 19 percent of survivors endure long-term disabilities such as brain damage, the company said.
In mid-day trade, PFE was down 0.75% to $28.95.