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Why Pfizer and BioNTech Stocks Popped Today

TheMotleyFool

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Shares of Pfizer (NYSE: PFE) and BioNTech (NASDAQ: BNTX) climbed on Wednesday after the pharmaceutical titan and biotech announced a major development in the battle against COVID-19. As of 2:40 p.m. EST, Pfizer's and BioNTech's stocks were up 3% and 5.6%, respectively.

A phase 3 trial showed Pfizer's and BioNTech's vaccine candidate BNT162b2 to be as much as 95% effective at preventing COVID-19. And importantly, BNT162b2 was generally well tolerated with no serious safety concerns observed among the study's participants to date. This promising data prompted the U.K. government to grant emergency authorization for the COVID-19 vaccine.

Pfizer and BioNTech achieved a scientific breakthrough. Image source: Getty Images.

Source Fool.com

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