BioNTech (NASDAQ: BNTX) was founded by the German husband-and-wife team of Uğur Şahin and Özlem Türeci in 2008, to use messenger RNA (mRNA) treatments for individualized cancer immunotherapy. A funny thing happened on their road to cancer cures, though: Using that same mRNA technology, they helped develop the top-selling COVID-19 vaccine.

BioNTech, which went public with an initial public offering in 2019, collaborated with Pfizer (NYSE: PFE) on Comirnaty, their joint COVID-19 vaccine, which did a pharmaceutical-record $36.8 billion in sales in 2021. BioNTech's fortunes changed with the 19 billion euros (roughly $18.75 billion) in collaboration revenue it received from Pfizer last year. BioNTech's stock made some investors rich, going from $85 per share in January 2021 to a high of $357 in late November of that year.

Flash-forward nearly a year later, and the vaccine stock is trading at less than half those lofty highs (on Monday, it was around $135 a share), down roughly 48% so far this year. And its trailing 12-month price-to-earnings ratio is only around 3.1.

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Source Fool.com