BioNTech SE (NASDAQ:BNTX) shares are trading higher on Thursday, after the company said it would partner with Pfizer (NYSE:PFE) to initiate first clinical trials of the coronavirus vaccine as early as this month.
The company will receive $185 million upfront and is eligible for up to $563 million in milestones.
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BioNTech SE, a biotechnology company, develops and commercializes immunotherapies for cancer and other diseases.
BioNTech SE shares were trading up 8.39% at $48.72 on Thursday. The stock has a 52-week high of $105 and a 52-week low of $12.52.