BioNTech Down 5% On News Of Less Effectiveness Of Covid Vaccine

Shares of German biotechnology company BioNTech SE (BNTX) are trading 5 percent lower on Tuesday. According to reports, the Israeli health ministry said that the COVID-19 vaccine developed by the company in association with Pfizer Inc. (PFE) is only 64 percent effective against the deadly disease.

In 2020, the vaccine had an efficacy rate of 95 percent but with the delta variant spreading in the country, the vaccine efficacy has reduced to 64 percent, but it is still effective in preventing hospitalization and death, the ministry said.

The stock is currently trading at $212.71, down $11.29 or 5% on the Nasdaq. BNTX has traded between $54.10 and $252.78 during the past 52 weeks.

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