Vaccine Manufacturers – Investors Take Profits – Economy

Biontech and Pfizer have submitted initial data to the US FDA for a booster vaccination with Comirnaty. After days of violent swings, Biontech shares edged up early in trading on the US technology exchange Nasdaq on Tuesday. On Monday, the paper had lost more than nine percent and closed at $ 343.10. Since its previous high on August 9, Monday a week ago, at 447.23 dollars, the newspaper has moved away considerably.

The action of the American competitor Moderna, whose vaccine, like that of Biontech, is based on mRNA, has developed almost synchronously in recent days. Moderna also hit a new high of $ 484.47 on August 9. For a short time, the company was worth over $ 200 billion on the stock market. On Monday, the stock closed at $ 373.86. According to a report by the Bloomberg news agency, more and more investors are “bothered” by the high valuation of biotech companies. More and more analysts would lower their recommendation for the two stocks from “buy” to “keep”. The valuation of Moderna would now have gone from “unreasonable” to “ridiculous”, commented Geoff Meacham, analyst at Bank of America, on the record price of Moderna.

A communication from the European Medicines Agency could have caused an additional brake. Last Wednesday, she announced that she was checking whether certain symptoms that have occurred in a few cases after Covid vaccinations with mRNA vaccines should be classified as side effects. These are skin reactions and kidney disease. A causal link has not yet been proven. The authority did not recommend changing the product information. Stock market experts attribute the steep price losses in recent days to investor profit taking after the sharp price increases at Biontech and Moderna in recent months.

On Monday, Pfizer and Biontech announced that they had submitted Phase 1 data from a study testing the safety, tolerability and immunogenicity of a third dose to the FDA. Subjects were boosted “eight to nine” months after the second vaccination. According to a press release, the study shows that the third dose, compared to a double vaccination, causes “considerably higher” neutralizing antibody titers against the original Sars-CoV-2 virus as well as against the variants. beta and delta. The data would also be submitted to the EMA and other regulatory authorities in the coming weeks, Biontech said.

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