Why BioNTech Shares Are Trading Higher Today

BioNTech SE (NASDAQ:BNTX) is trading higher Monday morning after the company announced better-than-expected second-quarter financial results. 

BioNTech reported quarterly earnings of $12.97 per share, which beat the estimate of $8.91 per share. The company reported quarterly revenue of $6.39 billion, which beat the estimate of $3.84 billion. 

BioNTech said that more than 1 billion doses of its BNT162b2 vaccine has been supplied worldwide.

“We and our partner Pfizer Inc (NYSE:PFE) have crossed the one billion mark for COVID-19 vaccine doses shipped worldwide. We are proud to have reached this great milestone after only six months and to have made a difference for people with our proprietary mRNA technology," said Ugur Sahin, co-founder and CEO of BioNTech. 

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

Price Action: BioNTech has traded as high as $433.90 and as low as $54.10 over a 52-week period.

At last chek Monday, the stock was up 5.15% at $409.06.