What's the Outlook for BioNTech Stock?

As of today, 167 COVID-19 vaccine candidates are in development around the world with 28 in clinical human trials. Companies, nonprofits, and governments are partnering to find a safe and effective vaccine against the virus, which has resulted in nearly 750,000 deaths globally and brought economies to a grinding halt. In response, demand for coronavirus vaccine stocks has soared as investors try to pick the most likely winners of the vaccine race.

One of the most promising vaccine candidates is being jointly developed by two large-cap biotech companies, BioNTech (NASDAQ: BNTX) and Pfizer (NYSE: PFE). The companies have a 50-50 partnership, meaning that BioNTech is responsible for half of the vaccine's development expenses and will receive half of gross profits, regardless of whether or not it actually aids in the distribution of the vaccine.

BioNTech is an experimental biotech company based in Germany that develops various potential vaccines and cancer therapies. In the company's recent earnings call, BioNTech disclosed positive clinical results from its coronavirus vaccine candidate and rising demand for bulk doses. Let's take a closer look at BioNTech's progress and prospects.

Source Fool.com