BioNTech stock soars after Q2 earnings beat

Shares of the Covid-19 vaccine maker BioNTech (BNTX.US) skyrocketed during today’s US session after the company released its Q2 results (today, before the opening bell). The company said that it and its partner Pfizer (PFE.US) had shipped roughly 1 billion doses of their coronavirus vaccine as of late July. Both companies have signed orders for delivery of more than 2.2 billion doses this year. 

BioNTech earned $12.67 per share on $6.24 billion second-quarter sales. Results topped expectations as Wall Street anticipated earnings of $8.87 per share on $3.83 billion of revenues. The company’s CEO says that currently the best approach is to continue with a booser dose of the existing vaccine, but the situation may also require adaptation of the vaccine amid further variants. Also, the firm hinted at potential M&A plans as well as licensing of products and strategic collaborations in order to boost its pipeline of cancer drugs.

BioNTech (BNTX.US) shares have risen more than 100% over the past… month! Earlier the stock was trading in an upward channel, but a breakout followed. At press time the price is soaring 15% and the Marubozu candlestick shows that bulls remain in control during today’s trading. Source: xStation5