Why Delta Air Lines Shares Are Rising

Shares of several travel-related companies, including Delta Air Lines, Inc. DAL are trading higher following positive data from Pfizer for its COVID-19 oral antiviral treatment candidate.

According to Pfizer:

• PAXLOVID™ was found to reduce the risk of hospitalization or death by 89% compared to placebo in non-hospitalized high-risk adults with COVID-19
• In the overall study population through Day 28, no deaths were reported in patients who received PAXLOVID™ as compared to 10 deaths in patients who received placebo

Pfizer plans to submit the data as part of its ongoing rolling submission to the U.S. FDA for Emergency Use Authorization (EUA) as soon as possible

See Also: Why Delta's CEO Is Optimistic About Leisure, Business Travel: 'There's Enormous Pent-Up Demand'

Atlanta-based Delta Air Lines is one of the world's largest airlines, with a network of over 300 destinations in more than 50 countries.

Delta has a 52-week high of $52.28 and a 52-week low of $30.80.