[BigBossX]

BioNTech stock popped Monday after the Pfizer (PFE) partner crushed Wall Street's second-quarter forecasts and said it expects to deliver more than 2.2 billion Covid vaccine doses this year.

The companies say they can manufacture up to 3 billion doses this year, with capacity growing to 4 billion doses in 2022. BioNTech (BNTX) says it has also signed agreements to deliver more than 1 billion doses of the Covid vaccine in 2022.
"We and our partner Pfizer have crossed the 1 billion mark for Covid-19 vaccine doses shipped worldwide," Chief Executive Ugur Sahin said in a written statement. "We are proud to have reached this great milestone after only six months and to have made a difference for people with our proprietary (messenger RNA) technology."

On today's stock market, BioNTech stock jumped 15% to 447.23, hitting another record high.
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BioNTech Stock Pops On Earnings Beat
BioNTech earned $12.67 per share on $6.24 billion in second-quarter sales. Profit turned around from a year-earlier loss of 45 cents. Sales skyrocketed a quintuple-digit percentage. At this time in 2020, BioNTech didn't have a commercial product. The Pfizer-partnered vaccine launched in December.
Both measures easily topped BioNTech stock analysts' projections for adjusted profit of $8.87 a share and $3.83 billion in sales.

The companies are now working to expand use of their Covid vaccine, and are running tests in pregnant women and children ages 6 months to 11 years old. In another study, BioNTech and Pfizer are testing a third dose of their original vaccine as a booster shot. They're also testing a beta variant-specific shot.

Further, BioNTech and Pfizer say they're planning to begin a test in August of a vaccine aiming to take down the delta variant. Delta is the most prevalent strain in the U.S. According to a Centers for Disease Control and Prevention estimate, delta accounted for 79.6%-87% of U.S. Covid cases as of July 31.
Testing New Cancer Drugs
Now, BioNTech is advancing multiple cancer drugs into later-stage testing. This provides "the potential for introducing a series of product candidates to the market in the coming years," CEO Sahin said. The oncology pipeline includes 15 experimental drugs in 18 studies.

Before year's end, BioNTech expects to have four updates from ongoing cancer studies.
But the company didn't offer sales or earnings projections for 2021. BioNTech stock analysts called for the company to earn $33.12 a share on $14.68 billion in sales for the year.
BioNTech stock has a perfect Relative Strength Rating of 99, according to IBD Digital. This puts shares in the top 1% of all companies in terms of 12-month performance.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
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