Why BioNTech (BNTX) Shares Are Trading Higher Today - BioNTech (NASDAQ:BNTX)

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German Chancellor Olaf Scholz agreed to allow expatriates in China to use BioNTech SE BNTX made COVID-19 vaccine.
BioNTech would be the first non-Chinese coronavirus vaccine in China, as Beijing has insisted on administering domestically produced vaccines.
BioNTech partners on COVID vaccines with Pfizer Inc PFE in regions outside Greater China.
Also Read: Pfizer/BioNTech Updated Omicron Adapted COVID-19 Vaccine Shows 4-Fold Higher Neutralizing Activity.
In October, Moderna Inc's MRNA CEO Stephane Bancel said the company has talked with the Chinese government about supplying COVID-19 vaccines.
But the company refused to hand over to China the core intellectual property related to developing its famed COVID-19 vaccine.
A spokesperson for BioNTech told Reuters that vaccines for the Chinese market would be initially imported.
While the COVID-19 shots are available in Hong Kong, Macau, and Taiwan, the regulatory review for mainland China has not been concluded.
BioNTech has said that decision was up to Chinese regulators and did not give any reason for the delay.
No other foreign-made COVID shot has gained access to mainland China's market.
Price Action: BNTX shares are up 6.44% at $154.60 on the last check Friday.