Corona vaccine hopeful BioNTech latches on to biopharma fever

BioNTech_PA_575x375_July23
By Sam Kerr
23 Jul 2020

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.

The deal is the latest in a biotech issuance bonanza across the US and Europe, which has seen the sector become one of the hottest in capital markets.

The German firm is raising capital through a two-legged transaction. First through 5.5m ADRs, up from an initial 5m at ...

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