Pfizer Inc (NYSE:PFE) is trading higher Wednesday after the company received Breakthrough Therapy Designation from the U.S. Food and Drug Administration for PF-06482077, or RSVpreF, the company's respiratory syncytial virus vaccine candidate.
The FDA’s Breakthrough Therapy Designation is designed to expedite the development and review of drugs intended to treat or prevent serious conditions when preliminary clinical evidence indicates that the drug or vaccine may demonstrate substantial improvement over available therapy.
