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Why BioNTech Stock Jumped Today

TheMotleyFool

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Shares of BioNTech (NASDAQ: BNTX) were jumping 5.9% higher as of 2:50 p.m. EDT on Wednesday. The solid gain came after BioNTech and Pfizer (NYSE: PFE) announced that they had signed a letter of intent with South African biopharmaceutical company The Biovac Institute Ltd to manufacture their COVID-19 vaccine for distribution within the African Union.

In addition to this news, COVID-19 vaccine stocks as a group continue to enjoy momentum because of concerns about the delta variant. The Centers for Disease Control and Prevention (CDC) stated earlier this week that the delta variant now accounts for 83% of all new COVID-19 cases in the U.S.

Image source: Getty Images.

Source Fool.com

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