Here's Why BioNTech Gained 34.8% in June
Shares of BioNTech (NASDAQ: BNTX) rose 34.8% last month, according to data provided by S&P Global Market Intelligence. The German biopharma announced progress in efforts to develop a safe and effective vaccine against SARS-CoV-2, the coronavirus that causes COVID-19, with partner Pfizer.
In mid-June, BioNTech announced it had received access to roughly $112 million in debt financing from the European Investment Bank. Two weeks later, the development-stage company announced a $250 million private placement from Temasek, a leading investor in living technologies.
The momentum accelerated on the first day of July, when BioNTech and Pfizer announced early results from a vaccine candidate that suggest it triggers the intended immune responses against SARS-CoV-2 in humans. As of the first week of July, the pharma stock has delivered a year-to-date gain of 105%.
Source Fool.com