Why BioNTech's Stock Is Trading Higher Today

BioNTech SE (NASDAQ: BNTX) shares are trading higher after the company announced it would begin human trials of its coronavirus vaccine candidate in China.

The potential vaccine is one of the two most advanced candidates that BioNTech is working on with its partner Pfizer and they received a “fast track” status this week from the U.S. FDA, which is designed to speed up the regulatory review process, according to Reuters.

BioNTech is a biotechnology company that focuses on developing cancer therapeutics, including individualized immunotherapy, as well as vaccines for infectious diseases, including COVID-19.

BioNTech's stock was trading up 2.88% at $80.25 per share on Thursday at the time of publication. The company has a 52-week high of $105.00 and a 52-week low of $12.52.