What happened
Shares of BioNTech (BNTX -1.57%) were jumping 5.5% higher as of 3:05 p.m. EDT on Thursday. The gain came after the company and its big partner, Pfizer (PFE -3.85%), announced efficacy of 95.6% for a 30-microgram booster dose of their COVID-19 vaccine in a late-stage study.
So what
BioNTech's and Pfizer's results could increase demand for their COVID-19 vaccine booster. That's especially the case now that the U.S. Food and Drug Administration (FDA) has authorized mix-and-match boosters.
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Individuals who initially received one of the other two COVID-19 vaccines on the market could opt to get the Pfizer-BioNTech booster because of the high efficacy. So far, no other efficacy results have been reported from randomized, controlled clinical studies for COVID-19 boosters.
It's also possible that these results could improve the prospects for BioNTech and Pfizer to sign more supply deals. BioNTech stated in its second-quarter update that supply agreements for more than 1 billion doses have been finalized for 2022 and beyond.
Now what
There could be more catalysts on the way for the vaccine stock. BioNTech and Pfizer hope to win full FDA approval for their booster dose. The FDA could also potentially loosen its restrictions on which individuals can receive the Pfizer-BioNTech booster.
BioNTech CEO Uğur Şahin appeared to be strongly hinting at the wisdom of such a decision by the FDA in his comments in the press release announcing the phase 3 booster data. Şahin said, "These important data add to the body of evidence suggesting that a booster dose of our vaccine can help protect a broad population of people from this virus and its variants."
