Why BioNTech Blew Past the Market on Wednesday
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Summary:
Coronavirus vaccine developer BioNTech (NASDAQ:BNTX) had a happy hump day, with its shares rising 9.5% -- in sharp contrast to the S&P 500 index, which declined by a fraction. The company's high-demand product is getting another big lift from the public sector.
So what
The Biden administration reportedly plans to buy 500 million doses of BNT162b2 for distribution abroad. That's according to a Washington Post report published Wednesday morning, citing "three people familiar with the plans."
Image source: Getty Images.
The doses will be donated to low- and middle-income countries, as part of the administration's previously stated goal of helping such nations fight the pandemic. COVAX, the global coronavirus vaccine initiative, will distribut ...
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