BioNTech shares are trading lower after the company's partner, Pfizer, cut its COVID-19 vaccine and therapy sales outlook.
Portfolio Pulse from Bill Haddad
BioNTech's shares are trading lower following Pfizer's decision to cut its COVID-19 vaccine and therapy sales outlook. Pfizer is a partner of BioNTech.
October 16, 2023 | 11:27 am
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BioNTech's stock price is expected to be negatively impacted in the short term due to Pfizer's reduced sales outlook for their joint COVID-19 vaccine and therapy.
BioNTech's stock price is directly tied to the success of its COVID-19 vaccine, which it developed in partnership with Pfizer. Pfizer's decision to cut its sales outlook for the vaccine suggests that demand for the vaccine may be lower than previously expected, which could negatively impact BioNTech's revenues and, consequently, its stock price.
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