BioNTech Says Collaboration With Pfizer Going Strong After Report Indicated US Pharma Giant Considering Stake Sale In The German Company
Synopsis
A BioNTech spokesperson told Reuters that the two companies continue to have a “close and strong collaboration.”
- The clarification from the German biotech company comes on the heels of a Bloomberg report that Pfizer is considering selling its remaining stake in BioNTech for up to $508 million.
- Pfizer and BioNTech partnered in 2020 to develop a COVID-19 vaccine at the height of the global pandemic.
- The two companies continue to share profits from their COVID-19 vaccine formulations.
BioNTech (BNTX) reportedly stated on Thursday that its ongoing collaboration with Pfizer (PFE) remains unchanged, following reports that the U.S. pharmaceutical company is considering selling its stake in its German company.
"We continue to have a close and strong collaboration," a BioNTech spokesperson told Reuters on Thursday. The person reportedly added that BioNTech will not comment on any capital market activities by Pfizer.
Pfizer’s Potential Stake Sale In BioNTech
The clarification from the German biotech company comes on the heels of a Bloomberg report that Pfizer is considering selling its remaining stake in BioNTech for up to $508 million.
The U.S. drugmaker is offering approximately 4.55 million American depositary receipts via an overnight block trade, marketed between $108 and $111.70 per share, Bloomberg reported, citing people familiar with the matter.
Pfizer and BioNTech partnered in 2020 to develop a COVID-19 vaccine based on the latter’s mRNA technology at the height of the global pandemic, and Pfizer made an equity investment in BioNTech as part of the deal. The two companies continue to share profits from their COVID-19 vaccine formulations despite a sales slowdown.
How Did Stocktwits Users React?
Nasdaq-listed shares of BioNTech tumbled 6% at the time of writing, while PFE shares traded flat.
On Stocktwits, retail sentiment around BNTX rose from ‘bearish’ to ‘neutral’ territory over the past 24 hours, while sentiment around PFE stayed at ‘bullish’ levels.
BNTX stock is down by 7% this year. PFE shares dropped 0.4% in the same period.
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