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Adam Eckert

Why BioNTech Stock Is Surging

BioNTech SE (NASDAQ:BNTX) shares are trading higher Thursday after the company and Pfizer Inc (NYSE:PFE) announced a new COVID-19 vaccine supply agreement with the U.S. government.

Under terms of the agreement, the two companies will provide the U.S. government with 105 million doses of their COVID-19 vaccine. The government will pay $3.2 billion upon receipt and also has the option to purchase up to 195 million additional doses, bringing the total number of potential doses to 300 million. Pending regulatory authorization, the agreement will also include an "Omicron-adapted vaccine."

The vaccine doses are expected to be delivered as soon as "late summer 2022" and delivery will continue into the fourth quarter.

BioNTech is a next generation immunotherapy company pioneering novel therapies for cancer and other serious diseases. 

See Also: Why MeaTech 3D Shares Are Falling Today

BNTX Price Action: BioNTech has traded between $464 and $117.08 over a 52-week period.

The stock was up 6.71% at $151.42 at press time, according to data from Benzinga Pro.

Photo: Spencer Davis from Pixabay.

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