Why BioNTech Stock Jumped This Week
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Shares of BioNTech (NASDAQ: BNTX) jumped 10.9% this week as of the market close on Thursday. There were a couple of primary reasons behind the big gain. BioNTech's partner, Pfizer (NYSE: PFE), increased its full-year sales guidance for the companies' COVID-19 vaccine to $33.5 billion from $26 billion. Pfizer and BioNTech also provided a positive update from early testing of a third booster dose of the vaccine.
BioNTech stands to receive half of the extra $7.5 billion in COVID-19 vaccine sales expected by Pfizer this year. This news by itself served as a solid catalyst for the biotech stock. Even better, Pfizer's revised guidance didn't include any of the additional 200 million doses that the U.S. government announced last week that it's buying.
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Source Fool.com
