The meeting is the next step toward Covid vaccine boosters for all recipients of messenger RNA shots from vaccine stocks Pfizer (PFE)/BioNTech and Moderna. Medical experts will weigh the merits and risks of the White House’s plan, announced earlier this month.
Vaccine Stocks Dip Ahead Of Booster Meeting
In its first iteration, the White House said it would offer booster shots beginning eight months after the second dose. But according to CNBC, President Joe Biden has discussed the potential of third shots at five months. The U.S. would be following Israel’s lead.
“We’re considering the advice you’ve given that we should start earlier,” Biden said, according to CNBC, during a meeting with Israel Prime Minister Naftali Bennett on Friday. “Should it be as little as five months, and that’s being discussed.”
Still, vaccine stocks fell on Friday.
The next step is a decision from the CDC Advisory Committee on Immunization Practices. The committee is meeting today. Medical experts will make an official recommendation on whether the U.S. should start administering booster shots. Vaccine stocks fell ahead of that meeting.
The Biden administration hopes to start booster shots on Sept. 20. White House spokeswoman Jen Psaki confirmed the eight-month timeline remains in place. Officials with the CDC and Food and Drug Administration would have to sign off on beginning boosters at five months.
Rally Slows Despite Delta Spread
Amid all of this, the rally for vaccine stocks is now in limbo. The U.S. mass vaccination plan has slowed despite the spread of the delta variant with 52.3% of all people in the U.S. fully vaccinated. And medical experts don’t all agree booster shots will help end the pandemic.
Moderna stock hit a peak at 497.49 on Aug. 6. To that point, shares had risen more than fourfold in 2021. But the vaccine stock has dropped off recently.
Likewise, BioNTech stock hit its 464 peak on Aug. 10 after soaring nearly sixfold above its closing price for 2020. But shares are now close to 23% off that high.
Pfizer stock also hit a fresh high on Aug. 18 at 51.86, but the vaccine stock has since trended down.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
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