Why Johnson & Johnson Fell Today Despite Excellent Coronavirus Vaccine News | The Motley Fool
Johnson & Johnson (NYSE:JNJ) closed 3.6% lower on Friday. A downward move is exactly the opposite of what you’d expect to happen when a coronavirus vaccine developer announces positive clinical trial results, as the company did that morning.
Data indicated that Johnson & Johnson’s candidate met all of the primary and key secondary endpoints in its phase 3 clinical trial. In the sprawling global study, the vaccine’s overall efficacy was 66% in blocking moderate to severe COVID-19. It was 85% effective in preventing severe forms of the disease.
Better yet, the vaccine’s “efficacy against severe disease increased over time, with no cases in vaccinated participants reported after day 49,” as the…