Why BioNTech Rose as Much as 5% Today

Coronavirus stock BioNTech (NASDAQ: BNTX) was a winner on Monday. Shares of the German biotech, famous for being the co-developer of the BNT162b2 COVID-19 vaccine, peaked at a gain of over 5% on the day before settling down to a 1.5% increase.

There were several news items impacting the company, the most important of which was its announcement of a new program.

BioNTech announced Monday that it has launched a project aimed at developing a malaria vaccine based on the messenger RNA (mRNA) technology that underpins BNT162b2. The biotech said this program, "will assess multiple vaccine candidates featuring known Malaria targets ... as well as new antigens discovered in the pre-clinical research phase."

Source Fool.com