BioNTech, Moderna Continue to Slump as Year Closes Out

BioNTech  (BNTX) – Get BioNTech SE Report and Moderna  (MRNA) – Get Moderna, Inc. Report were both falling Wednesday, continuing a trend for the rival biopharmas that has lasted for several straight sessions.

Shares of the Germany-based BioNTech down nearly 3% in premarket trading, while Moderna of  Cambridge, MA Moderna as off 1.1%.

Activists and politicians have been pushing Moderna to cut prices on its Covid-19 vaccine and expand production for poorer countries, the Financial Times reported. 

Moderna’s Woes Pile Up

The company is fighting a shareholder proposal demanding it open up its vaccine technology to poorer countries and explain why its prices are so high given the amount of government assistance it has received.