What happened
Shares of BioNTech (BNTX +8.29%) were jumping 5.5% at 10:17 a.m. EDT on Wednesday. This marked the second consecutive day of nice gains for the stock. The German biotech reported great fourth-quarter results yesterday. Today's move was due to BioNTech's and Pfizer's (PFE +0.52%) announcement of results from a late-stage study of COVID-19 vaccine BNT162b2 in children ages 12 to 15.
So what
You couldn't ask for better news from BioNTech's and Pfizer's clinical update. The two companies reported that BNT162b2 demonstrated 100% efficacy along with robust antibody responses in kids ages 12 to 15. This is even higher than the earlier high efficacy levels achieved by the vaccine in older age groups.
BioNTech and Pfizer also stated that BNT162b2 was well tolerated by the children participating in the late-stage study. The companies noted that side effects were "generally consistent with those observed in participants 16 to 25 years of age."
Image source: Getty Images.
In addition, the partners announced that the first kids ages 6 months through 11 years were dosed last week in a phase 1/2/3 study. A cohort with children ages 5 to 11 has begun dosing, and a cohort of kids from 2 to 5 years old is expected to begin dosing next week.
It's easy to understand why the German biotech stock received a nice boost today. BioNTech and Pfizer could significantly boost sales of BNT162b2 if the vaccine wins Emergency Use Authorization (EUA) for younger age groups.
Now what
BioNTech and Pfizer plan to apply for EUA of BNT162b2 in vaccinating kids ages 12 to 15 within the next few weeks. Pfizer CEO Albert Bourla said that the companies hope to win EUA in the U.S. and other countries quickly, "with the hope of starting to vaccinate this age group before the start of the next school year."
