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When will the big breakthrough come for BioNTech?

The Mainz-based biotech company BioNTech has recently presented the results of the capital increase. The company is developing a COVID-19 vaccine together with Pfizer, already in the final third phase in the USA. BioNTech and Pfizer are planning to produce 1.3 billion doses by the end of 2021. BioNTech’s share price traded on NASDAQ down $3.39 on August 18th.

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This picture show a vaccine.

BioNTech has presented the results of the announced capital increase. 16,124 ordinary shares represented by 16,124 ADSs were placed at a subscription price of $93.00 per ADS. The respective subscription periods expired on August 14th, 2020. According to the SEC filing published on the night of August 18th, BioNTech expects delivery of the ADSs in the rights offering to take place on or around August 27th, 2020. At the end of July, the company had already announced the placement of a $512 million ADS issue, also at $93.

Everyone’s eyes are currently on the biotech sector and the latest developments of the companies in the race to halt the coronavirus pandemic. Born2Invest brings you the most important business news and the latest breakthroughs in the biotech sector.

BioNTech is developing a vaccine against COVID-19 together with Pfizer

“BioNTech expects to use the net proceeds it will receive from the exercise of the subscription rights issued in the rights offering for general corporate purposes,” the Mainz-based biotech company said on Wednesday night, August 18th. The company is developing a vaccine against the pathogen of the COVID-19 pandemic together with Pfizer. 

In the USA, the clinical study program is in the final third phase. BioNtech and Pfizer expect to be able to submit an application for approval in October. Parts of the vaccine production planned for 2020 and 2021 have already been sold, among others to the USA and Great Britain.

The two companies want to produce 1.3 billion doses of the vaccine by the end of 2021. The BNT162 vaccine project is currently still in clinical testing. BioNTech hopes to apply for approval in October. A final clinical test phase 2b / 3 is to start in the USA in July. The project is on schedule, it is said from Mainz, where BioNTech is based – the company’s shares are listed on the US stock exchange NASDAQ, but are also tradable in Germany.

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Meanwhile, there is no major news regarding the chart situation of BioNTech shares

Currently, the success of competitor CureVac in its NASDAQ IPO is burdening a possible turnaround in BioNTech shares, which recently corrected from $105 to $66.12. A possible bottom formation at this level is underway. 

The most important cornerstones of the current chart situation for BioNTech shares: A price rise back above the barriers at $70.70/$71.53 and the daily high of Tuesday, August 17th at $72.88 as well as the range around $74.56/$76.80 would be the first pro-cyclical buy signals for BioNTech shares. The three breaks would be small but overall important signals that could open up new upside potential for the biotech stock.

If these signals fail to materialize, BioNTech’s share price could quickly fall again. However, important and strong chart support levels as well as the lower Bollinger Band are not far away for the biotech share, as it was already pointed out last week. The focus continues to be on the marks between $63.41 and $64.45/$64.51. The $62.22/$63.37 range complements this strong support cluster, as does the broad support below $60.43.

On August 18th, BioNTech’s share price finished trading on the NASDAQ at $67.88, down $3.39.

Given the current situation, the biotech sector is currently attracting the attention of investors and not only. The biotech companies, including BioNTech, that entered the race to find a vaccine against COVID-19 are now in the focus.

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(Featured image by Bao_5 via Pixabay)

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Anne Kings is a reporter for the financial sector, often tackling Wall Street and shareholders' interests. She also covers the intersection of media and technology, and delves into interesting topics on entertainment. Sometimes she also writes about the cannabis industry, in particular CBD and hemp. She is currently based in New York.