Why BioNTech Stock Soared Today
Bristol Myers Squibb just agreed to shower BioNTech with cash.
BioNTech (NASDAQ: BNTX), one of the companies made famous for its role developing vaccines with Pfizer (NYSE: PFE) during the COVID-19 pandemic, soared 20.2% through 12:50 p.m. Monday on news entirely unrelated to COVID.
The German biotech announced this morning it is partnering with pharmaceuticals giant Bristol Myers Squibb (NYSE: BMY) to "co-develop and co-commercialize" BioNTech's drug candidate BNT327 as an immunotherapy against multiple kinds of cancer.
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