Benzinga | Nov 5, 2021 09:45AM EDT

Why Royal Caribbean Group Shares Are Rising

Shares of several travel-related companies, including Royal Caribbean Cruises Ltd (NYSE:RCL) are trading higher following positive data from Pfizer for its COVID-19 oral antiviral treatment candidate.

According to Pfizer:

* PAXLOVID(tm) 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(tm) 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: Royal Caribbean Analyst Says Business Will Be Back To Normal By Mid-2022

Royal Caribbean is the world's second- largest cruise company, operating 60 ships across five global and partner brands in the cruise vacation industry.

Royal Caribbean has a 52-week high of $99.24 and a 52-week low of $57.63.