Why BioNTech SE Was Surging Today

Shares of vaccine maker BioNTech (NASDAQ: BNTX) were surging today, up 6.9%. The German mRNA vaccine producer, which partners with Pfizer (NYSE: PFE) on the COVID-19 mRNA vaccine, was surging after some good news on trials for its new booster late last week. In addition, the Nasdaq Composite was up today, reversing some of the losses from late last week. Finally, news of more COVID breakouts in China probably helped sentiment for vaccine producers.

On Friday of last week, the European Committee on Medicinal Products gave a thumbs-up for the use of BioNTech/Pfizer's vaccine as a booster for COVID-19, even if the patient had taken other vaccines before. That bit of good news followed last Monday's news of positive phase 2/3 trials that tested the company's COVID booster for children between 5 and 11. Currently, it's only recommended that that age group receive the two-dose regimen, but Pfizer/BioNTech looks to apply for emergency use authorization for the booster as well.

Second, although China has thus far refused the mRNA vaccines made by Western drugmakers for their homegrown vaccines, those aren't looking as effective against omicron. Shanghai has already been under lockdown since March, and omicron appears to be spreading fast in Beijing as well. That has prompted concerns that the Chinese may lock down more cities.

Source Fool.com