Why BioNTech Stock Is Falling Today

Shares of BioNTech (NASDAQ: BNTX) are down by 4.6% as of 1:34 p.m. EDT on Thursday, despite the company not reporting any news. However, with all three major U.S. market indexes dropping today (as of this writing), it is safe to assume that shares of the German biotech are being dragged down along with the broader market.

Earlier this year, BioNTech teamed up with pharma giant Pfizer to develop a vaccine for the novel coronavirus. The two companies' lead candidate, BNT162b2, is currently undergoing a phase 2b/3 clinical study. The trial will involve 30,000 participants aged 18 to 85. Its primary endpoints will be the prevention of COVID-19 in patients who have yet to be infected by the SARS-CoV-2 virus, as well as the prevention of the disease whether or not an individual has already contracted the virus.

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Source Fool.com