Why BioNTech Shares Are Trading Lower Again Today

BioNTech SE BNTX is continuing to trade lower Monday amid news surrounding Merck & Co Inc's MRK oral COVID-19 treatment.

Merck, and Ridgeback, on Friday announced its investigational oral antiviral molnupiravir reduced risk of hospitalization or death by about 50% versus the placebo for patients with mild to moderate COVID-19 in Phase 3 interim analysis.

Merck said it plans to submit an application for Emergency Use Authorization to the U.S. FDA as soon as possible based on these findings and plans to submit marketing applications to other regulatory bodies worldwide.

"With these compelling results, we are optimistic that molnupiravir can become an important medicine as part of the global effort to fight the pandemic and will add to Merck’s unique legacy of bringing forward breakthroughs in infectious diseases when they are needed most," said Robert Davis, president and CEO of Merck.

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.

BNTX Price Action: BioNTech has traded as high as $464 and as low as $69.31 over a 52-week period.

The stock was down 4.85% at $242.69 at time of publication.

Photo: Tim Reckmann from Flickr.