Rain. 52.3   F New York
AI-Powered News Summarizer
Top Stories

Analysis: Don't buy the stock market hype around coronavirus vaccine and treatment companies

October 14, 2020. Summarized by summa-bot.

A health worker wearing a protective mask works in a lab during clinical trials for a Covid-19 vaccine at Research Centers of America in Hollywood, Florida, U.S., on Wednesday, Sept. 9, 2020. Drugmakers racing to produce Covid-19 vaccines pledged to avoid shortcuts on science as they face pressure to rush a shot to market. Photographer: Eva Marie Uzcategui/Bloomberg via Getty Images

The world is waiting for a Covid-19 vaccine or more evidence that other treatments can be effective against coronavirus. But recent setbacks have made investors nervous -- and that's why experts say people shouldn't bet on vaccine winners and losers.

Drugmakers and biotechs are understandably working feverishly to try to come up with a vaccine or treatment from Covid-19.

"Larger companies like Pfizer and J&J are not looking to make a ton of money from a vaccine," said Kyle Dennis, founder of the Biotech Tader at RagingBull trading site.

Investors should also be wary of the Covid-19 vaccine and treatment stocks simply because many of them have already surged on hope and hype.

He also said that a vaccine is ultimately more important than drugs that may alleviate Covid-19 symptoms.

Dennis noted that because biotechs and Big Pharma firms are moving so quickly to develop a coronavirus vaccine, there probably will be more setbacks in clinical trials.

For example, Loncar owns Moderna and BioNTech because of their pipeline of cancer drugs as opposed to coronavirus vaccines.

Summarizer is on Google News. Now you can get the latest AI summarized news on your favorite news platform.

Don't like Google News? We have an RSS Feed for you.