Pfizer and BioNTech Get "Fast Track" Designation for 2 COVID-19 Vaccines

German biotech BioNTech SE (NASDAQ:BNTX) and its partner Pfizer (NYSE:PFE) announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation to two of four vaccines the companies are developing for SARS-CoV-2, the virus that causes COVID-19. The Fast Track designation means that BioNTech and Pfizer are eligible for more frequent meetings and written communication with the FDA to support an expedited review process for the vaccine candidates.