Doesn't it seem a little odd that the same day the drugmaker said its COVID-19 vaccine was 90% effective based on interim trial results, the CEO dumps his shares? Surely, with such a massive success story ahead there would be large gains to be made? Or does he know something we don't?
(Reuters) - Pfizer Inc PFE.N Chief Executive Officer Albert Bourla sold $5.56 million worth of company shares on Monday, the day the drugmaker said its COVID-19 vaccine was 90% effective based on interim trial results, a regulatory filing showed.
Bourla authorized the sale of the shares on Aug. 19, provided the stock was at least at a certain price, as part of a predetermined plan, the company said.
Bourla sold 132,508 shares at $41.94 per share, according to a Securities and Exchange Commission filing late Tuesday. (bit.ly/3eQ0RPV)