Here's Why BioNTech's Stock Price Jumped Today
Shares of BioNTech (NASDAQ: BNTX) were up by 6.7% as of 2:51 p.m. EDT Tuesday after the company announced that it started a rolling submission to the European Medicines Agency (EMA) for its coronavirus vaccine candidate, BNT162b2, which it is developing in partnership with Pfizer (NYSE: PFE). Shares of Pfizer were trading slightly lower, but close to flat, which isn't particularly surprising given the companies' relative sizes and how much the potential revenue from the vaccine could affect their respective bottom lines.
The rolling submission will allow BioNTech and Pfizer to submit parts of the application as they are complete, which should reduce the time between the final submission of data from their ongoing phase 3 clinical trial and the potential approval of BNT162b2. The early data submissions will likely include manufacturing and quality control data, preclinical safety data from animals, and data from the earlier clinical trials. The EMA is even willing to look at interim data from ongoing studies, which should help it make its decision on approval more quickly once the final data is available.
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Source Fool.com
