Pfizer shares experienced a sudden jump today after the FDA permitted the testing of a previously halted pain reliever. The drug in question, tanezumab, classed as a nerve growth factor inhibitor, is a protein-based drug which works by targeting nerve synapses. Initial concerns for the drug, which led to a halt in testing, included concerns of long-term neurological dysfunction as a potential side-effect, such concerns have been addressed in laboratory testing. The news sent Pfizer shares close to an 11 year high, following what is currently a 2.83% increase of share prices, bringing the cost of Pfizer’s stock to $35.21.
March 23, 2015 – Stock Market News
Pfizer shares experienced a sudden jump today after the FDA permitted the testing of a previously halted pain reliever. The drug in question, tanezumab, classed as a nerve growth factor inhibitor, is a protein-based drug which works by targeting nerve synapses. Initial concerns for the drug, which led to a halt in testing, included concerns of long-term neurological dysfunction as a potential side-effect, such concerns have been addressed in laboratory testing. The news sent Pfizer shares close to an 11 year high, following what is currently a 2.83% increase of share prices, bringing the cost of Pfizer’s stock to $35.21.