Pfizer Inc. (NYSE: PFE) and BioNTech SE (NASDAQ: BNTX) have revealed today that the COVID-19 vaccine candidate, BNT162b2, has shown encouraging results in the first interim analysis from the Phase III study.

The independent Data Monitoring Committee (DMC) has reviewed the mRNA-based vaccine candidate on November 8, 2020. The first interim analysis of the Phase III Study showed that the vaccine has the capability to prevent COVID-19.

Pfizer and BioNTech have started the Phase III study on July 27 and 43,538 candidates have participated in the study. 42% of candidates have different backgrounds and they have shown no serious symptoms.

Shares of Pfizer Inc. (NYSE: PFE) soared 13.71% at $41.39 during the trading session of Monday. It had a trading volume of 41.49 million as compared to the average volume of 22.94 million. It has a 52-weeks low range of $27.88 and a 52-weeks high range of $40.97. Pfizer has a total market capitalization of $202.21 billion at the time of writing.

BioNTech SE (NASDAQ: BNTX) shares heading higher 16.48% at $107.16 at the time of writing on Monday. In the past 52-weeks of trading, this company’s stock has fluctuated between the 52-weeks low of $17.07 and 52-weeks high of $105.00. BNTX had a trading volume of 3.82 million as compared to the average volume of 2.50 million. BNTX market capitalization has remained high, hitting $21.91 billion at the time of writing.

38,955 patients out of 43,538 have received a second dose of vaccine candidate as of November 8, 2020. Both the companies are expected to continue the enrollment. The analysis of the vaccine candidate was done on 94 confirmed COVID-19 cases. Vaccine candidate has shown 90% effectiveness in preventing COVID-19 vaccine candidate in participants.

The companies have also planned to file for Emergency Use Authorization (EUA) to the US Food and Drug Administration Authority (FDA) after achieving the necessary milestones.