Why BioNTech Stock Is Sliding Today

Shares of BioNTech (NASDAQ: BNTX) were sliding 4% lower as of 12:39 p.m. ET on Wednesday. The decline came after the company and its big partner, Pfizer (NYSE: PFE), announced results from a laboratory study that showed a third booster dose of their COVID-19 vaccine neutralizes the omicron variant at similar levels observed with the original coronavirus strain after two doses. 

Why would the vaccine stock slip on what seems like good news? Probably because the prospects that Pfizer and BioNTech will experience an upsurge in sales of their COVID-19 vaccine due to the omicron variant appear to be lower.

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Source Fool.com