BioNTech Hits Record as Vaccine Success Spurs on Biotechs
- Earnings report this week from Pfizer could help extend rally
- Biotech sector rebounds after selloff on regulatory concerns
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BioNTech SE, the vaccine maker partnered with Pfizer Inc. on its Covid-19 shot, rose 10% on Monday as the stock rallied past $200 a share, breaking yet another record after closing at new highs four out of five days last week.
The German company was among the top gainers as the biotech sector regained lost footing and optimism about economies reopening bolstered stocks. Shots from Pfizer and BioNTech as well as Moderna Inc. have helped the U.S. reach more than 245 million doses administered, while side-stepping some of the safety concerns that have arisen for shots from AstraZeneca Plc and Johnson & Johnson.