Shares of BioNTech SE (FRA: 22UA) surged 13% on Monday after reports that the biotech firm is in talks with the European Union over a potential deal for its COVID-19 vaccines.
Media outlets reported yesterday that the EU is holding advanced talks with a group of drugmakers, namely Moderna, Sanofi, Johnson & Johnson, BioNtech, and CureVac.
“We are in talk with several companies on possible COVID-19 vaccines,” a spokesman for the Commission said.
Last month, the EU ordered 400 million doses of the potential COVID-19 vaccine from AstraZeneca. The EU agreed to pay upfront for the vaccines.
According to the reports, talks with Johnson & Johnson are centered around the purchase of 200 million doses of vaccine.
BioNTech declined to comment on the reports, although Sanofi confirmed the talks about the potential deal for 300 million doses.
The European Union already offered funds to BioNTech to ramp up the development of its vaccine. The Germany-based company is working on a new vaccine with U.S. pharma giant Pfizer. These two firms are working to produce and deliver 100 million doses by the end of the year.
BioNTech share price is trading more than 12% higher in Germany today as the buyers work to extend the bullish move.