Why BioNTech Stock Is Skyrocketing 46.4% Higher Today

Shares of BioNTech (NASDAQ: BNTX) were skyrocketing 46.4% higher as of 11:07 a.m. EDT on Wednesday. This huge gain came after the biotech announced Tuesday that it and Pfizer (NYSE: PFE) would collaborate on developing a novel coronavirus vaccine. 

BioNTech and Pfizer were already partners. The two companies signed an agreement in 2018 to collaborate on development of flu vaccines based on messenger RNA (mRNA). However, this week's expansion of the collaboration between BioNTech and Pfizer is an even bigger story because of the intense global focus on finding a way to slow the spread of the novel coronavirus and the disease that it causes, COVID-19.

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Source Fool.com