BioNTech down 5% on news COVID-19 vaccine less effective
Shares of German biotechnology company BioNTech SE (BNTX) are trading 5 per cent lower on Tuesday. According to reports, the Israeli health ministry said that the COVID-19 vaccine developed by the company in association with Pfizer Inc. (PFE) is only 64 per cent effective against the deadly disease. In 2020, the vaccine had an efficacy […]
Shares of German biotechnology company BioNTech SE (BNTX) are trading 5 per cent lower on Tuesday.
According to reports, the Israeli health ministry said that the COVID-19 vaccine developed by the company in association with Pfizer Inc. (PFE) is only 64 per cent effective against the deadly disease.
In 2020, the vaccine had an efficacy rate of 95 per cent but with the delta variant spreading in the country, the vaccine efficacy has reduced to 64 per cent, but it is still effective in preventing hospitalisation and death, the ministry said.
The stock is currently trading at 212.71 dollars, down with 11.29 dollars or 5 per cent on the Nasdaq. BNTX has traded between 54.10 dollars and 252.78 dollars during the past 52 weeks.