BioNTech SE’s stock price performance has improved significantly over the past few months. On August 9, the stock price jumped by $447.23 and reached its maximum. Next month, the price ranged from $382.10 – $333.48. Yesterday, the company’s stock closed at $243.77. The price on the pre-market is $245.50. During the pandemic, the biotech company Moderna was working on mRNA and developing a vaccine against coronavirus.
In order to instruct the body’s cells to produce a specific protein, the vaccine uses mRNA. The company has been working on this project for more than ten years. Pfizer (PFE) is a newcomer in the field of mRNA and also a competitor of Moderna in the coronavirus vaccine.
Initially, Pfizer collaborated with BioNTech back in 2018, then concluded a new agreement with its biotech partner. Currently, the vaccine brings huge profits to Pfizer and BioNTech. The companies are expected to share $33 billion in revenue from the coronavirus vaccine this year. Pfizer does not limit its mRNA business to a coronavirus-related product.