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Coronaviruses

Stocks Rise Amid Vaccine Approval and Mergers

Strategic Insights

— 2 min read

The U.S. stock market surged on Monday, reaching an all-time intraday high, after the FDA issued full approval for Pfizer's coronavirus vaccine and several major companies announced significant deals and milestones. Pfizer shares led the gainers, increasing 2.9% after the vaccine approval, while Trillium Therapeutics skyrocketed 189% after being acquired by Pfizer for $2.3 billion. Other notable gainers included NextGen Acquisition Corp. II, Exxon Mobil, and Vivos Therapeutics, which all saw significant increases due to various reasons such as mergers, investments, and FDA clearances.

Key Takeaways:

  • Pfizer's shares surged 2.9% after the FDA granted full approval for its coronavirus vaccine, a first since emergency use permission was granted last year.
  • Trillium Therapeutics' shares skyrocketed 189% after being acquired by Pfizer in a deal worth $2.3 billion, valuing the immuno-oncology specialists at around $2.3 billion.
  • NextGen Acquisition Corp. II's shares rose 1.9% after Richard Branson's Virgin Orbit agreed to merge with the special purpose acquisition company, valuing Virgin Orbit at about $3.2 billion.
  • Exxon Mobil's shares climbed 4.2% after the energy giant announced plans to resume talks with the Papua New Guinea government on the P'nyang natural gas project, a project worth $13 billion.
  • Vivos Therapeutics' shares soared 46% after the medical-technology provider garnered FDA clearance for a device to treat sleep apnea, a condition affecting over 1 billion people globally and 54 million Americans.

Statistics:

  • 2.9% increase in Pfizer's shares after FDA approval
  • 189% increase in Trillium Therapeutics' shares after acquisition by Pfizer
  • 1.9% rise in NextGen Acquisition Corp. II's shares after merger with Virgin Orbit
  • 4.2% increase in Exxon Mobil's shares after announcing talks with Papua New Guinea government
  • 46% surge in Vivos Therapeutics' shares after FDA clearance for sleep apnea device
  • 1 billion people globally suffering from sleep apnea
  • 54 million Americans suffering from sleep apnea
  • $13 billion value of P'nyang natural gas project

Sources:

  • "Pfizer gets full FDA approval for Comirnaty coronavirus vaccine" (https://www.thestreet.com/investing/pfizer-gets-full-fda-approval-for-comirnaty-coronavirus-vaccine)
  • "Pfizer agrees to $2.26 billion takeover of Trillium Therapeutics" (https://www.thestreet.com/investing/pfizer-agrees-2-26-billion-takeover-of-trillium-therapeutics)
  • "Virgin Orbit to go public through merger with special purpose acquisition company" (https://www.thestreet.com/boardroomalpha/spac/spac-branson-virgin-orbit-ngca)
  • "Boeing commits to investing in Virgin Orbit" (https://www.thestreet.com/investing/boeing-ba-stock-richard-branson-virgin-orbit-spac-ipo)
  • "Exxon to resume talks with Papua New Guinea on P'nyang natural gas project" (Reuters)
  • "Vivos Therapeutics gets FDA clearance for sleep apnea device" (https://www.thestreet.com/investing/vivos-therapeutics-fda-clears-sleep-apnea-device?puc=yahoo&cm_ven=YAHOO)

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