Pfizer to Close South San Francisco Site, Halts U.S. COVID Trial as Stock Rises 12.8%
Pfizer will close its South San Francisco research site and office by month-end, shifting staff to remote roles and cutting expenses. It also halted U.S. recruitment for its updated COVID-19 vaccine trial, while its stock trades above its 50- and 200-day SMAs, up 12.8% year-to-date.
1. South San Francisco Site Closure
Pfizer plans to shut its South San Francisco research site and office by the end of April, transitioning affected staff to fully remote positions. The facility, acquired as part of the $5.4 billion Worldwide Blood Therapeutics deal in 2022, was underutilized and now represents an opportunity for cost savings and operational efficiency.
2. COVID-19 Vaccine Trial Halted
Pfizer and its partner halted recruitment for a large U.S. trial of their updated COVID-19 vaccine in healthy adults aged 50 to 64 after enrollment fell short of targets. The decision delays potential data generation and could affect the vaccine’s rollout timeline.
3. Technical Stock Performance
Since early January, Pfizer’s stock has consistently traded above its 50-day and 200-day simple moving averages, reflecting sustained investor confidence. The shares have gained approximately 12.8% year-to-date, highlighting market support despite strategic cutbacks.