Shares of BioNTech Soar on a Coronavirus Vaccine Announcement
Shares of BioNTech (NASDAQ: BNTX) rose nearly 30% today after the company announced it will soon begin clinical trials of coronavirus vaccine candidates in Germany. The biotech and its development partner, Pfizer (NYSE: PFE), were granted permission from the Paul-Ehrlich-Institut, Germany's medical regulatory body, to proceed with investigational studies.
The clinical trial will be the first of a coronavirus vaccine candidate to begin in Germany, although BioNTech and Pfizer expect to soon begin trials in the United States and China, too. As of 10:51 a.m. EDT on Wednesday, the pharma stock had settled to a 13.1% gain.
Image source: Getty Images.
Source Fool.com
