26. May 2020 | 07:43 CET
BioNTech, Evotec, XPhyto - will the next rally start?
Germany's leading index DAX closed the previous day at 11,391 points, its highest level since March 2020. At the beginning of the week the index of the 30 largest German companies gained 317 points compared to Friday, representing a gain of 2.87%. In the USA Wall Street remained closed on Monday due to the Memorial Day. As is well known, the stock market is where the future is traded and for this reason investors are already investing in the prospects of companies in the period following the Corona Pandemic. A rally has begun.
time to read: 1 minutes by Mario Hose
Cannabis expertise for German brewing
XPhyto Therapeutics is not yet as well known in Germany as the renowned partners and institutions with which the Canadian cannabis company cooperates in this country. The renowned and world-famous German brewery Oettinger has recently agreed to cooperate with XPhyto. As a common goal the cooperation in the field of development as well as production and distribution of new cannabis spiked beverages and products has been agreed. XPhyto's expertise is in the formulation and clinical validation of cannabis products in the growing European market.
Through a wholly owned subsidiary in Germany, the company has obtained a unique license for the cultivation and extraction of cannabis for research purposes from the German Federal Institute for Drugs and Medical Devices. In addition, XPhyto, through its subsidiary, has two R&D collaboration agreements with the Faculty of Chemistry and the Chair of Beverage and Brewing Technology at the Technical University of Munich. With a share price of CAD 3.25, the company is valued at CAD 176 million and is not far from its high of CAD 3.55.
Individual cancer therapies to cure
BioNTech's stock is also on the rise, and yesterday closed with a gain of EUR 1.53 or 3.3% at a price of EUR 48.40. The market value of the German biotech company already exceeds EUR 10 billion. At its annual high, the share was already trading at over EUR 60.00. BioNTech is focused on new and individual cancer therapies and is currently working with renowned partners on the development of a vaccine for Covid-19. In connection with the Corona Pandemic and possible test results, the company is expected to remain in the focus of reporting in the coming months.
Product research and development
The biotech company Evotec is currently valued at EUR 3.6 billion. The shares changed hands at EUR 24.03. At its all-time high, Evotec was traded at over EUR 27.00. As a drug discovery and development company, Evotec drives new solutions and pharmaceutical products with partners and alliances. The company's experts operate worldwide and, according to the company's own statements, have state-of-the-art technologies and proven expertise in the core therapeutic areas of neuroscience, diabetes, pain and inflammation, oncology, infectious diseases, respiratory diseases and fibrosis.