Pfizer Inc. PFE, +0.08% and BioNTech SE BNTX, +0.68% said Monday that they formally completed an application asking the Food and Drug Administration to authorize their experimental bivalent COVID-19 booster in those who are 12 years old or older. The new shot equally targets the original strain of the virus and the BA.4 and BA.5 strains. BA.5 is the most dominant strain of SARS-CoV-2 in the U.S. right now. Moderna Inc. MRNA, -1.90% is also developing a bivalent COVID-19 booster. So far this year, Pfizer’s stock is down 16.9%, while shares of BioNTech have tumbled 42.3%. The S&P 500 SPX, -1.68% has declined 11.3%.
