Why Pfizer Partner BioNTech SE Shares Are Trading Higher

BioNTech SE - ADR BNTX shares are trading higher by 5.37% to $136.45 going into the close of Wednesday's trading session after the FDA granted Emergency Use Authorization to the company's 10-µg booster dose of an Omicron BA.4/BA.5-adapted bivalent COVID-19 vaccine.

What Happened?

Pfizer Inc. PFE and BioNTech SE today announced that the U.S. Food and Drug Administration (FDA) granted Emergency Use Authorization (EUA) for a 10-µg booster dose of their Omicron BA.4/BA.5-adapted bivalent COVID-19 vaccine in children 5 through 11 years of age. Pending recommendation from the Centers for Disease Control and Prevention (CDC), 10-µg doses will be shipped immediately.

"As families across the country take part in fall festivities and plan for the upcoming holiday season, we aim to provide school-aged children with additional protection against the Omicron BA.4/BA.5 subvariants, which continue to account for more than 80% of cases in the U.S.," said Albert Bourla, Chairman and Chief Executive Officer, Pfizer.

"Anticipating this need, we manufactured millions of booster doses, which will be made available, pending CDC recommendation, to help families stay up to date with COVID-19 vaccinations," Bourla stated.

See Also: Why Carnival, Norwegian Cruise Line And Royal Caribbean Group Shares Are Outperforming The Market

According to data from Benzinga Pro, BioNTech SE has a 52-week high of $374.58 and a 52-week low of $117.08.