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Stock Alert: BioNTech Shares Climb 48% In Early Trading

Shares of BioNTech SE (BNTX) are surging over 48% in pre-market today, after the company and Pfizer Inc. (PFE) announced that the German regulatory authority, the Paul-Ehrlich-Institut, has approved the Phase 1/2 clinical trial for BioNTech's BNT162 vaccine program to prevent COVID-19 infection.

BioNTech and Pfizer are jointly developing BNT162. The trial is the first clinical trial of a COVID-19 vaccine candidate to start in Germany, and is part of a global development program. Pfizer and BioNTech will also conduct trials for BNT162 in the United States upon regulatory approval, which is expected shortly.

Further, BioNTech noted that it is also collaborating with Fosun Pharma to develop BNT162 in China, where the companies expect to conduct trials.

The stock has been trading in the range of $12.52 - $105.00 for the past one year, and closed Tuesday's trade at $42.26, down $1.11 or 2.56%. BNTX is currently trading at $62.75, up $20.49 or 48.49% in the pre-market trading session.

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