Why BioNTech Stock Is Jumping Today
Shares of BioNTech (NASDAQ: BNTX) had jumped 11.8% higher at 11:42 a.m. EDT on Wednesday. The gain came after The New York Times reported that the U.S. Food and Drug Administration will likely approve the Pfizer-BioNTech COVID-19 vaccine by early September.
The potential for full FDA approval of its COVID-19 vaccine is certainly good news for BioNTech. However, it probably doesn't justify the biotech stock adding more than $10 billion to its market cap today.
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Source Fool.com