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(PFE) presented Phase 2 data for its eczema antibody tilrekimig on the same day Florida's attorney general sued the company over its COVID-19 vaccine.
The simultaneous developments present investors with a complex mix of potential legal liability and clinical progress, though the immediate market reaction was modest.
Shares closed down 1.40% at $28.12, while the S&P 500 rose 0.19%. The decline trimmed approximately $2.3 billion from Pfizer's market value, a move that cannot be attributed to either event alone.
The company's third-quarter report, due November 3, is expected to provide clearer direction for the stock than either headline.
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