Why BioNTech, Moderna, and Novavax Stocks Are Sinking Today
Shares of several top COVID-19 vaccine makers were sinking as of 10:22 a.m. ET on Tuesday. BioNTech (NASDAQ: BNTX) was being hit the hardest, with the stock down 9.8%. Shares of Moderna (NASDAQ: MRNA) and Novavax (NASDAQ: NVAX) had fallen 7.4% and 8.2%, respectively.
It's easy to determine why BioNTech stock is dropping. Results from a clinical trial conducted in Israel found that a fourth dose of the COVID vaccine developed by BioNTech and its big partner, Pfizer (NYSE: PFE), didn't prevent infection by the coronavirus omicron variant.
Israel had begun giving a fourth dose of the Pfizer-BioNTech vaccine to older and immunocompromised individuals. But Gili Regev-Yochay, the lead researcher for the clinical trial conducted in the country, stated that the latest results don't appear to support offering a fourth dose of the vaccine to the entire population. This could hurt BioNTech's and Pfizer's prospects of selling more doses of their COVID vaccine in Israel and perhaps in other countries.
Source Fool.com
