Why Pfizer And BioNTech Shares Are Trading Higher Today

Pfizer Inc. PFE and BioNTech SE BNTX shares are trading higher following reports indicating the FDA is expected to fully approve Pfizer and BioNTech's COVID-19 vaccine this week.

The two-dose shot was first cleared in December by the agency on an emergency use basis for people 16 years and older. The emergency designation allows for products to be distributed during public-health crises based on the best available evidence, said in the WSJ report.

Pfizer also announced it will acquire Trillium Therapeutics for $18.50 per share, implying an equity value of $2.26 billion.

BioNTech is a Germany-based biotechnology company that focuses on developing cancer therapeutics, including individualized immunotherapy, as well as vaccines for infectious diseases, including COVID-19.

BioNTech's stock was trading about 7.4% higher at $374.40 per share Monday morning.

Pfizer Inc. discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas.

Pfizer's stock was trading about 4% higher at $50.65 per share.