BioNTech Stock Dips On FDA Concerns Over Cancer Drug Trial: Retail Response Mixed

Shares of BioNTech ($BNTX) were down nearly 3% on Friday after the company paused new enrollments in its lung cancer drug trial.

BioNTech and its partner OncoC4 have paused new patient enrollments in a lung cancer drug trial after the U.S. Food and Drug Administration (FDA) raised concerns 

The trial, which is testing a new treatment for non-small cell lung cancer, showed different results for two groups of patients. This prompted BioNTech and OncoC4 to stop adding new patients while they investigate the issue. 

However, patients already receiving the treatment will continue as planned, and other studies of the drug remain unaffected. The companies are working closely with the FDA to figure out the next steps.

Morgan Stanley noted that this is “an incremental negative” for the stock. However, it maintains its ‘Overweight’ rating on the stock. The brokerage’s main focus remains on another cancer drug, BNT327, which is driving their positive outlook.

Retail sentiment on Stocktwits has drummed down to ‘neutral’ (47/100) from ‘bullish’ a day ago. 

U.S. shares of BioNTech are flat for the year.

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