logo
Plus   Neg
Share
Email

Stock Alert: BioNTech Up 65%; To Co-Develop Coronavirus Vaccine With Pfizer

Shares of BioNTech SE (BNTX) are currently gaining over 65% on Tuesday morning after the company announced that it will team up with pharma giant Pfizer Inc. (PFE) to develop a potential vaccine for coronavirus Covid-19.

The companies will jointly develop BioNTech's mRNA-based vaccine candidate BNT162 to prevent COVID-19 infection. The companies have singed a letter of intent regarding the co-development and distribution, excluding China.

The latest collaboration builds on a 2018 agreement between the two companies to develop mRNA-based vaccines for prevention of influenza.

The companies will start working together immediately. Pfizer and BioNTech will use research and development sites from both companies, including in the US and Germany.

Mikael Dolsten, Chief Scientific Officer and President, Worldwide Research, Development & Medical, Pfizer, said, "We believe that by pairing Pfizer's development, regulatory and commercial capabilities with BioNTech's mRNA vaccine technology and expertise as one of the industry leaders, we are reinforcing our commitment to do everything we can to combat this escalating pandemic, as quickly as possible."

The coronavirus pandemic has so far infected nearly 179,000 people globally and killed more than 7,000.

BNTX is currently trading at $65.96, up $25.96 or 64.89%, on the Nasdaq.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
American Airlines has extended its offer to waive change fees for customers who purchase tickets for travel, until March 31 in response to lower travel demand due to the coronavirus pandemic. This means that travelers are provided additional flexibility by not asking them to pay penalties for changing the origin and destination cities. Lancaster Foods LLC has recalled certain conventional processed butternut squash items citing the potential to be contaminated with Listeria Monocytogenes, the U.S. Food and Drug Administration said. The products recalled included Autumn Medley, Butternut Squash Noodles, Butternut Squash Planks, Squash Noodle Medley, Butternut Squash Chunks, and Veggie Rice Blend in various measures. Amazon.com Inc. has offered to help the newly sworn-in US President Joe Biden with speedy delivery of Covid-19 vaccines across the United States amid the ongoing pandemic crisis. The e-commerce giant, whose majority of workers are in the frontline of the pandemic, reiterated its request to prioritize its essential workers to receive the vaccines at the earliest appropriate time.
Follow RTT