Why BioNTech Stock Climbed Today
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Shares of BioNTech (NASDAQ: BNTX) rose on Monday, following the release of the biotechnology company's first-quarter financial results. As of 2 p.m. ET, BioNTech's stock price was up more than 3% after rising as much as 7.3% earlier in the day.
BioNTech's revenue surged 211% year over year to 6.4 billion euros ($6.7 billion), driven by sales of the company's COVID-19 vaccine. The German biotech shares the proceeds from the drug with its pharmaceutical partner Pfizer in most markets across the world.
BioNTech's net profit, in turn, soared 228% to 3.7 billion euros ($3.9 billion), or roughly $15.04 per share. That was well above analysts' estimates, which had called for per-share profits of approximately $9.71.
Source Fool.com
