Why BioNTech Stock Was Blasting 20% Higher This Week

Still a front-line soldier in the war against the resurgent coronavirus, BioNTech (NASDAQ: BNTX) was very much on investors' radar this week.

Comirnaty, the COVID vaccine it's developed with U.S. pharmaceutical giant Pfizer, is not only the go-to jab in many jurisdictions, on Thursday it also received Food and Drug Administration (FDA) authorization as a booster shot for previously vaccinated adults. But this wasn't the only reason the stock was trading more than 20% higher week-to-date as of late afternoon Friday.

BioNTech's stock was up 5% on that day alone, after the FDA granted that authorization for boosters of both Comirnaty and Moderna's (NASDAQ: MRNA) comparable mRNA-1273. This was especially welcome news given that coronavirus cases have leaped to a six-week high as the cold weather starts to bite across the U.S.

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Source Fool.com