Corona vaccine hopeful BioNTech latches on to biopharma fever

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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