Here's What's Bumping BioNTech Stock Higher Today

Shares of BioNTech (NASDAQ: BNTX) were up by 5.5% as of 11:34 a.m. EST on Wednesday after trading up by as much as 6.4% earlier in the morning. Those gains came after BioNTech and Pfizer (NYSE: PFE) announced that their coronavirus vaccine candidate, BNT162b2, had met all of the primary efficacy endpoints in a large phase 3 clinical study and achieved an overall efficacy of 95%.

This news wasn't too surprising since BioNTech and Pfizer reported interim numbers last week showing that BNT162b2 had achieved an efficacy of more than 90%. However, investors certainly liked that in the final analysis, the vaccine edged out its leading rival, Moderna's mRNA-1273; an interim report for that COVID-19 vaccine candidate earlier this week showed it to have an efficacy of 94.5%.

Image source: Getty Images.

Source Fool.com