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Why BioNTech Stock Is Sinking Today

TheMotleyFool 
0 0 10.12.21
Why BioNTech Stock Is Sinking Today: https://investors.biontech.de/media-materials
 

Shares of BioNTech (NASDAQ: BNTX) are sinking 8.7% as of 11:07 a.m. ET on Friday. The biggest news for the company was positive. The U.S. Food and Drug Administration announced on Thursday that it is expanding the Emergency Use Authorization (EUA) for boosters of the COVID-19 vaccine developed by Pfizer (NYSE: PFE) and BioNTech to include those aged 16 and 17.

This expanded EUA didn't cause the vaccine stock to fall, though. Investors could still be reacting to the announcement from Pfizer and BioNTech on Wednesday that a third dose of their vaccine neutralized the omicron variant. 

Also, the Centers for Disease Control and Prevention (CDC) published its Morbidity and Mortality Weekly Report on Friday. This report showed that the Pfizer-BioNTech vaccine was less effective than Moderna's (NASDAQ: MRNA) vaccine (75% versus 86%) in preventing COVID-19 hospitalizations among U.S. veterans over an eight-month period ending Sept. 30, 2021. Recipients of Moderna's vaccine also had higher antibody levels than those who'd gotten the Pfizer-BioNTech vaccine.

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Source Fool.com

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