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Why BioNTech Stock Shot Higher on Wednesday

·2 min read
Why BioNTech Stock Shot Higher on Wednesday
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Shares of BioNTech (NASDAQ: BNTX) climbed sharply higher on Wednesday, gaining as much as 11% earlier in the session, though the stock ended the trading day up 10.3%. The biotechnology company is known for partnering with Pfizer (NYSE: PFE) to co-develop the BNT162b2 COVID-19 vaccine. BioNTech road Pfizer's coattails higher today as the company reported strong sales of its vaccine and raised its full-year forecast as a result.