BioNTech stock popped Friday after the company asked European regulators to authorize its Pfizer (PFE)-partnered Covid vaccine for teenagers.
If authorized, people ages 12-15 would become eligible to receive the coronavirus vaccine in all 27 member states of the European Union. BioNTech (BNTX) and Pfizer have already requested a similar change to their authorization in the U.S.
The submission is based on a final-phase study of 2,260 participants ages 12-15. The vaccine proved 100% effective in teenagers, regardless of whether they’d previously contracted Covid. Researchers will monitor participants for two years following their second dose.
On the stock market today, BioNTech stock jumped 4.8% to 188.28. Pfizer stock rose a fraction to 38.65. As a major pharmaceutical player with a number of approved drugs, Pfizer shares are less volatile on Covid vaccine news.
BioNTech Stock Surges On Europe Request
Pfizer and BioNTech’s Covid vaccine is already authorized in the U.S., Europe and various countries for adults ages 18 and older. The two-injection vaccine uses new technology that harnesses the body’s mechanism for building proteins: messenger RNA.
The virus that causes Covid is coated in so-called spike proteins. The vaccine from Pfizer and BioNTech tells the body to make a single spike protein. That prompts an immune response. Moderna (MRNA) makes a vaccine using the same technology.
BioNTech stock has soared from relative obscurity on the promise of its Covid vaccine and messenger RNA technology. Shares traded just above 12 when they went public in October 2019. Today, BioNTech stock trades around 188.
On a year-to-date basis, BioNTech stock has surged 131%.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
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