Monday’s market selloff skipped past BioNTech (BNTX). The German biotech ended the session posting a 12% gain after news that two of the COVID-19 vaccine candidates it is co-developing with partner Pfizer were given Fast Track designation status by the U.S. Food and Drug Administration (FDA).Any positive development in the search for a desperately needed coronavirus treatment or vaccine has prompted optimistic headlines accompanied by surging stock prices. However, J.P. Morgan analyst Cory Kasimov believes the headlines illustrate how much the public has taken to biotechs during these pandemic driven times, while the news amounts to… well, not much really.“The …read more
Source:: Yahoo Finance
