Corona vaccine hopeful BioNTech latches on to biopharma fever

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Corona vaccine hopeful BioNTech latches on to biopharma fever

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Themed picture, symbolic photo: Corona vaccine. A hand wrapped in rubber gloves holds a single-use syringe with vaccine for injection with a cannula. BIONTECH biotechnology company. | usage worldwide | FrankHoemann/SVEN SIMON/DPA/PA Images

BioNTech, the German biopharmaceuticals company, is selling 5.5m American Depositary Receipts (ADRs) on the Nasdaq through a share sale and a rights issue. The company, which is working with Pfizer to develop a vaccine for Covid-19, is the latest issuer to hit the market in a wave of biotech ECM issuance — but buyers are being warned against being too eager, reports Sam Kerr.

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