BioNTech down as investors tap feet waiting for COVID-19 trial data

• BioNTech SE (BNTX -6.3%) is down, albeit on below-average volume. Shares have sold off 16% from the intermediate high of $97.29 on October 19 although the uptrend remains in place.
• Investor apprehension may be building ahead of the expected data readout from a Phase 3 clinical trial evaluating it and partner Pfizer's (PFE -1.1%) COVID-19 vaccine candidate BNT162b2. The companies previously stated that they will announce preliminary data this month which means that time is running out. Experienced biotech and biopharma investors know that perceived delays in data announcements are, in many cases, harbingers of disappointing results since companies typically trumpet out the positive kind very quickly.
• Bernstein's Vincent Chen, M.D. echoed this perception in an interview on CNBC saying he was expecting two interim analyses this month, the first a couple of weeks ago, adding that the delay may suggest poor results.
• https://seekingalpha.com/news/3625954-biontech-down-6-investors-tap-feet-waiting-for-covidminus-19-trial-data