BioNTech, Pfizer stocks fall after upbeat news on Moderna’s COVID-19 vaccine candidate

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Shares of BioNTech SE dropped 5.9% in premarket trading Monday, and Pfizer Inc.’s stock fell 1.7%, after Moderna Inc. said its COVID-19 vaccine candidate can be stored at standard refrigerator temperatures for 30 days, while BioNTech’s and Pfizer’s vaccine needed to be stored at “ultra-low” temperatures. In addition, Moderna’s candidate demonstrated an efficacy rate that may be higher than the BioNTech’s and Pfizer’s vaccine candidate. Last week, BioNTech and Pfizer said their COVID-19 vaccine candidate BNT162b2 was found to be “more than 90% effective,” while Moderna said it’s vaccine candidate demonstrated 94.5% efficacy. Moderna’s stock shot up 13% in premarket trading. Meanwhile, futures for the S&P 500 rose 1.0% ahead of the open.
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