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plunges more than 27% since Pfizer announcement

The race to get a vaccine to stop the coronavirus crisis is coming to an end. Moderna has already announced the first data extracted from its phase III clinical trials that has managed to demonstrate an efficacy of 94.5% against disease, just one week after Pfizer did. A scenario that has caused the Spanish pharmaceutical company PharmaMar, with the Aplidin clinical trial, lag behind and record a drop of more than 27% since last November 9 due to the positive results of its competitors.

In addition to not convincing investors, PharmaMar’s studies to stop the covid-19 also did not convince the National Securities Market Commission (CNMV), which requested additional information from the pharmaceutical company on the results of the APLICOV-PC clinical trial with Aplidin (plitidepsin) last Tuesday. In this reply, the company provided information and data of a sensitive and strictly confidential nature.

The investment manager of Metagestión, Alfonso Batalla, has explained in conversations with this newspaper that “since PharmaMar announced Aplidin -the anticancer drug that cures the covid- the shares of the pharmaceutical company shot up 213.26%, but the company suffered a correction since last July due to the collection of profits from investors due to the trajectory of the action and the delay in the trials of the drug to stop the expansion of the coronavirus crisis.

“Drug careers, as is the case with the coronavirus vaccine, are in the background, since the first to take it out and have the best results will be the one with the largest market share, in a context of struggle between countries to achieve the reactivation of the economy. However, this does not mean that if Moderna’s vaccine is 94% effective, there is no room for Pfizer’s, since investors are only judging where the largest volume of orders are going to be concentrated ”, points out the manager of Meta-management investments.

Batalla assures that “with the announcement of the Pfizer We have already seen a correction in the shares of the Spanish company, which has been repeated with the news of the progress of Moderna. Both companies have managed to enter phase III and they are awaiting authorization from the competent authorities – which are going to accelerate the process – a scenario that harms PharmaMar, since it has not yet reached those levels in its study and the different governments are launching into the purchase of dose to slow the spread of the pandemic.

Rovi soars 9% in the stock market

Specifically, the Government of Pedro Sánchez has already reached an agreement with the Pfizer vaccine to receive 20 million doses to vaccinate the population at risk. Meanwhile, the Spanish pharmaceutical company Rovi has closed a collaboration with Moderna for the production of the vaccine against covid-19, which has caused the titles of the pharmaceutical company to have revalued by 9% in the day of this Monday, after announcing the American company that its effectiveness is of the 94.5%, higher than that developed by Pfizer and BioNTech.

Rovi shares have gained 8.59%, the fifteenth rise in the Spanish Stock Market, and have closed at 39.2 euros. In so far this year, the Spanish pharmaceutical company appreciates 60.7%. Despite the positive evolution of Rovi, the biggest increases in the stock market this Monday corresponded to banks and companies related to tourism.

The Sabadell has risen 24.59%, the highest advance of the Ibex 35 and the Spanish Stock Market, followed by BBVA, which has gained 15.25% and has been the second most bullish value on the selective. Meanwhile, PharmaMar has led the side of losses in the Spanish stock market with a fall of 9.99% in the session this Monday.

Target price reduction

For its part, Batalla points out that another reason why the shares of the Spanish pharmaceutical company have been weighed down is that “analysts have set out to reduce PharmaMar’s target prices, considering that the securities were too expensive and that the The company’s drug news was not as positive as expected. Intermoney, Alantra and Stifel they have lowered the objective costs of the titles ”.

“We still do not think it will be a moment of entry into PharmaMar, as we are awaiting the final phase of Aplidin. A tumor drug, which will be good news for the company when the green light is given by the competent authorities, “he concludes.