BioNTech stock falls after CureVac files suit, saying COVID vaccine infringes patents

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Shares of BioNTech SE BNTX, +5.63% fell 0.9% in premarket trading Tuesday, after CureVac N.V. CVAC, +4.63% filed in Germany a patent infringement suit against the biotechnology company. CureVac said there were certain of its patents that were utilized in the manufacture and sale of BioNTech and Pfizer Inc.’s COVID-19 vaccine, Comirnaty. CureVac said while it doesn’t seek an injunction, and won’t take legal action to impede the production or sale of Comirnaty, it is seeking “fair compensation” for infringement of its patents. CureVac’s stock rose 0.4% in premarket trading, and Pfizer shares slipped 0.8%. Year to date, CureVac’s stock has tumbled 58.5% and BioNTech shares have shed 38.9%, while the iShares Biotechnology ETF IBB, +2.16% has dropped 21.3% and the S&P 500 SPX, +1.06% has shed 19.7%.

This article was originally published by Marketwatch.com. Read the original article here.

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