Pfizer rose over 1% in premarket trading and reached an all-time high at 56.13

Pfizer rose over 1% in premarket trading and reached an all-time high at 56.13.Preliminary laboratory tests gave encouraging signs that Pfizer Inc.’s experimental Covid-19 pill for the newly infected could work against Omicron, the company said.

Pfizer also said Tuesday that a final analysis of late-stage study results confirmed the drug, named Paxlovid, was 89% effective at reducing the risk of hospitalization and death in adults at high risk of severe Covid-19.