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.
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.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in 4 investors, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Tages acquires 28 photovoltaic plants in Italy from Viridis and Equiter
With the latest acquisitions, the Tages Helios II fund has come to hold 116 MW of installed capacity, including 30...
Next bitcoin price rally brewing due to stablecoin inflows on exchanges
In the cryptocurrency market, many traders exchange crypto assets like Bitcoin for stablecoins when they are unsure of the upside...
Grifols takes its plasma to the Murcia Health Service for €3 million
The Spanish company will supply plasma to the Regional Center for Hemodonation of the Region of Murcia (CRH) for two...
How the regulation of medical cannabis in Brazil has developed
Over the past year, Anvisa has made some decisions that have improved access to medicines based on medical cannabis but...
FORMATION.GG tackles the esports tournament industry, giving everyone a chance to win
The world of esports is fiercely competitive, but the rewards are often limited to elite squads of professional players and...
Featured7 days ago
Why did interest rates as measured by the U.S. 10-year treasury note soar over 1% this past week
Crowdfunding7 days ago
The gaming industry also grew on crowdfunding platforms during 2020
Featured7 days ago
Despite the outlook, the fintech sector is optimistic about 2021
Cannabis6 days ago
Research: Long-term use of cannabis has no effect on age-related cognitive abilities