BioNTech SE – ADR (NASDAQ: BNTX) stock remains bullish in the bear market

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BioNTech SE – ADR (NASDAQ: BNTX) stock rose over 3.3% on 9th April, 2020 (as of 12:24 pm GMT-4; Source: Google finance) leading to a rise of over 32.4% YTD (Source: Finviz.com). This is despite the market sell-off on the back of the coronavirus pandemic, which is in the early stages of negatively affecting the U.S. and world economies. However, in April BNTX stock fall due to profit booking. The stock had risen earlier as it had partnership with pharmaceutical giant Pfizer for the development and distribution of a vaccine to immunize people against COVID-19. BioNTech’s COVID-19 mRNA vaccine candidate, BNT162, is projected to enter clinical testing by the end of April 2020. BioNTech has more irons in the fire than just its vaccine development partnership with Pfizer. The company’s main focus in on the development of individualized cancer drugs, though it also leveraging its technologies for treatment and immunization against rare and infectious diseases. The company currently has 20 product candidates, 10 candidates in 11 ongoing clinical trials, and seven partnerships with pharmaceutical companies. Along with mRNA-based immune activators, the company’s development platforms leverage three other drug classes.

Moreover, the company had made a strategic alliance with Fosun Pharma for the development of its COVID-19 vaccine in China. Under the terms of the agreement, the two companies will work together on the development of BNT162 in China. The company will be conducting clinical trials in China and leveraging Fosun Pharma’s extensive clinical development, regulatory, and commercial capabilities in the country. If approved, Fosun Pharma will then commercialize the vaccine in China.

As per the terms of the agreement, Fosun Pharma had agreed to make an equity investment of $50 million (€44 million) for 1,580,777 ordinary shares in BioNTech, which is subject to execution of share subscription documentation and approval from regulatory authorities in China.

Meanwhile, the data from the ongoing Phase 1 trial on BNT111 in advanced melanoma is on track for publication in late 1H 2020. Based on further regulatory discussions, the Company anticipates to start a Phase 2 trial with registrational potential for BNT111 in 2H 2020. Further, the data update on BNT114 from a Phase 1 trial in triple negative breast cancer (TNBC) is now anticipated in 2H 2020.

Additionally, the company’s cash and cash equivalents at the end of December, 2019, were €519.1 million. The company had reported net loss of €58.2 million for the fourth quarter ended December 31, 2019, compared to net loss of €1.5 million for the fourth quarter ended December 31, 2018.

 

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