BioNTech SE (BNTX) shares plummeted 5.02% during Monday's intraday trading session, reflecting broader declines among vaccine makers following the FDA's announcement of stricter vaccine approval requirements and safety concerns.
The drop comes after an internal FDA memo, circulated late last week, linked COVID-19 vaccines to adverse events, including myocarditis in children. Dr. Vinay Prasad, the FDA's top vaccine regulator, emphasized the need for additional safety data and stricter approval processes, particularly for flu and pneumonia vaccines. This regulatory shift has raised investor concerns about increased costs and delays for vaccine developers like BioNTech.
Analysts note that the FDA's new stance, under Health and Human Services Secretary Robert F. Kennedy Jr., could lead to heightened scrutiny of existing and future vaccines, potentially impacting BioNTech's revenue streams and market access.
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