Why Pfizer and BioNTech Stocks Are Soaring Today

Before the market opened on Monday, Pfizer (NYSE: PFE) and BioNTech (NASDAQ: BNTX) announced interim efficacy results from a late-stage study of COVID-19 vaccine candidate BNT162b2. The drugmakers reported that BNT162b2 was found to be more than 90% effective in preventing COVID-19 in participants who had not been previously infected by the novel coronavirus SARS-CoV-2. Shares of Pfizer were soaring 12.5% as of 9:32 a.m. EST on Monday while BioNTech stock was up 18.2%.

Today's announcement from Pfizer and BioNTech is arguably the most important news since the COVID-19 pandemic began earlier this year. The potential for a COVID-19 vaccine to be available in the near future could mean that the world now can see a light at the end of the tunnel with the pandemic.

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Source Fool.com