Pfizer and BioNTech to submit emergency use authorization request to FDA for COVID-19 vaccine

Pfizer and BioNTech announced on Friday that they will be submitting an emergency use authorization request to the US Food and Drug Administration (FDA) on Friday.

Additional details of the announcement revealed that companies will be ready to distribute the vaccine within hours after the authorization. 

"To date, Data Monitoring Committee (DMC) for the study has not reported any serious safety concerns related to the vaccine," Pfizer and BioNTech reiterated.

Market reaction

The S&P 500 Futures erased daily losses and turned flat at 3,578 ahead of the opening bell.