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Stock Alert: BioNTech SE Shares Surge In Pre-Market

Shares of BioNTech SE (BNTX) are soaring over 50% in pre-market today, after the company announced rapid progress on COVID-19 vaccine program to address global public health threat. The company's product candidate, BNT162, is a potential first-in-class mRNA vaccine in the worldwide effort against COVID-19.

BioNTech intends to initiate clinical testing for BNT162 in late April 2020, subject to regulatory approval, as part of a global clinical development program in Europe (commencing in Germany), the United States and China.

BioNTech also announced a strategic development and commercialization collaboration with Shanghai Fosun Pharmaceutical to advance BioNTech's mRNA vaccine candidate BNT162 in China for the prevention of COVID-19 infections.

If approved, Fosun Pharma would commercialize the vaccine in China. BioNTech further noted that it would supply the mRNA vaccine for clinical trials from GMP manufacturing facilities in Europe along with its partner Polymun, and would retain full rights to develop and commercialize the vaccine in the rest of the world.

BNTX has been trading in the range of $12.52 - $48.85 for the past one, and closed Friday's trade at $30.93, up $2.38 or 8.34%. The stock is currently trading at $47.21, up $16.28 or 52.63% in pre-market trading session.

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