Why Is Pfizer Partner BioNTech Stock Trading Lower On Monday?
Portfolio Pulse from Vandana Singh
BioNTech SE's (NASDAQ:BNTX) stock is trading lower due to a partial clinical hold placed by the FDA on a Phase 1 trial of the antibody-drug conjugate product candidate BNT326/YL202, which is being developed in partnership with MediLink Therapeutics. The hold affects the enrollment of new patients in the U.S. due to safety concerns at higher doses.
June 17, 2024 | 5:22 pm
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BioNTech SE's stock is down 5.04% due to a partial clinical hold by the FDA on a Phase 1 trial of BNT326/YL202, citing safety concerns at higher doses. This hold affects the enrollment of new patients in the U.S.
The FDA's partial clinical hold on the trial due to safety concerns is a significant regulatory setback for BioNTech, directly impacting its stock price negatively. The hold prevents new patient enrollment in the U.S., which could delay the trial and affect investor sentiment.
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