Pfizer’s CEO Dumps 62% Of His Stock On COVID Vaccine Announcement

On Monday, Pfizer shares soared 16% following a bullish statement on the company’s experimental COVID-19 vaccine showed 90% effectiveness in preliminary results. Then on Tuesday, according to a Securities and Exchange Commission filing, Pfizer CEO Albert Bourla sold 62% of his stock.

The SEC Form 4 filing showed Bourla sold 132,508 shares at an average price of $41.94 per share, equivalent to $5.6 million – nearly top-ticking the 52-week-high.

Bourla’s sale was conducted under Rule 10b5-1, established by the SEC, allowing the corporate insider to sell a predetermined number of shares at a predetermined time. A Pfizer spokesperson told Axios that the CEO’s predetermined trading plan was formed in August.

Despite the sale being perfectly legal under Rule 10b5-1 to avoid accusations of insider trading, the optics aren’t great for Bourla, who still managed to top-tick the 52-week-high on the sale on news day. One can argue that he couldn’t have known the results of the vaccine trial months ahead of time. And while all this is coming out just days after a critical US election, though it’s not clear if that was a trigger.

Other pharmaceutical companies such as Moderna, also producing a COVID-19 vaccine, experienced similar insider selling over the summer around vaccine news – where insiders dumped tens of millions of dollars of stock.

Under the cover of Rule 10b5-1, corporate insiders at some pharmaceutical companies are already running for the exits by dumping their stock, of course, it’s easier to commit to pre-plan sales of stock when you know you can pump the price by simply publishing a press release.

PTSD, panic attacks, insomnia: 1 in 5 Covid-19 patients develop mental illness within three months, new study finds

PTSD, panic attacks, insomnia: 1 in 5 Covid-19 patients develop mental illness within three months, new study finds
A sizeable portion of Covid-19 patients have been diagnosed with mental disorders months after testing positive for the coronavirus, a large study of health records has found.

In a study published in The Lancet Psychiatry journal, researchers from the University of Oxford have analyzed electronic medical record of 69 million people living in the US. It included 62,354 individuals who were diagnosed with Covid-19 between January 20 and August 1.

The scientists found that 20 percent of those infected with the coronavirus were diagnosed for the first time with some sort of mental illness within 90 days after testing positive for Covid-19. The main conditions recorded were different anxiety disorders, including adjustment disorder, post-traumatic stress disorder, and panic disorder, as well as insomnia and dementia.

“People have been worried that COVID-19 survivors will be at greater risk of mental health problems, and our findings… show this to be likely,” Paul Harrison, a professor of psychiatry and one of the authors of the study, told Reuters.

Harrison advised health services to be ready to provide psychiatric care, adding that the study’s results were “likely to be underestimates” of the number of psychiatric patients.

In August, the US Centers for Disease Control and Prevention (CDC) warned that the ongoing pandemic has been “associated with mental health challenges” related to the deaths caused by Covid-19, as well as by attempts to control the spread of the disease, such as social distancing rules and lockdowns. The CDC said that symptoms of anxiety and depression “increased considerably” across the US from April to June as compared to the same period last year.