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Why BioNTech Stock Vaulted Higher Today

TheMotleyFool

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Shares of BioNTech (NASDAQ: BNTX) were vaulting 10.4% higher as of 3:26 p.m. EDT on Friday. The solid gain came after Reuters reported that the European Union is in discussions with the company along with several other drugmakers to purchase potential COVID-19 vaccines.

Four EU countries reached an agreement with AstraZeneca in June to purchase 400 million doses of its COVID-19 vaccine candidate. However, that volume won't be nearly enough to immunize the wider European population. That's why EU officials are looking to strike upfront deals with other companies that are developing COVID-19 vaccine candidates.

Image source: Getty Images.

Source Fool.com

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