New York (CNN Business) Pfizer CEO Albert Bourla filed to sell millions of dollars of his company's stock Monday -- the day the pharmaceutical giant announced positive data about its coronavirus vaccine. The company's shares soared after Pfizer and European drug company BioNTech said early data suggests the vaccine could be more than 90% effective. The transaction was part of a regularly scheduled plan set up by Bourla to periodically sell some of his Pfizer shares. Pfizer PFE Bourla sold 132,508shares at a price of $41.94, according to a filing with the Securities and Exchange Commission. A Pfizer spokeswoman said in an email to CNN Business that the sale took place because Pfizer shares hit a predetermined price as part of a plan authorized by Bourla on August 19.

Source: CNN November 11, 2020 15:05 UTC