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April 9, 2020, 9:57 a.m. EDT

Pfizer discloses $185 million upfront payment to BioNTech for COVID-19 vaccine program

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By Jaimy Lee

Shares of Pfizer Inc. /zigman2/quotes/202877789/composite PFE +0.03% were up 0.6% in premarket trading on Thursday after the drugmaker disclosed it is paying BioNTech /zigman2/quotes/214419716/composite BNTX +5.68% $185 million for their COVID-19 vaccine development collaboration, with additional possible future milestone payments up to $563 million. BioNTech's stock gained 8.6% before the market opened. The program, which was first announced by the companies in March, aims to put a vaccine candidate into clinical trials in April. Separately, Pfizer had also told multiple media outlets that it is testing an unnamed investigational therapy as a treatment for people sickened by the novel coronavirus. Year-to-date, Pfizer's stock is down 11.7%, while BioNTech's stock has jumped 32.7%. The S&P 500 /zigman2/quotes/210599714/realtime SPX +0.48% has fallen 14.9%.

/zigman2/quotes/202877789/composite
US : U.S.: NYSE
$ 38.19
+0.01 +0.03%
Volume: 46.15M
May 29, 2020 4:00p
P/E Ratio
13.66
Dividend Yield
3.98%
Market Cap
$212.08 billion
Rev. per Employee
$580,595
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/zigman2/quotes/214419716/composite
US : U.S.: Nasdaq
$ 49.53
+2.66 +5.68%
Volume: 760,747
May 29, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$10.71 billion
Rev. per Employee
N/A
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/zigman2/quotes/210599714/realtime
US : S&P US
3,044.31
+14.58 +0.48%
Volume: 4.38B
May 29, 2020 5:14p
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