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BioNTech's shares have risen more than 180% in the last 12 months and hit a record high in December, but one analyst from investment bank Berenberg said there's more upside in the coming year.
The German pharmaceutical company, together with U.S. pharmaceutical giant Pfizer, co-developed a Covid-19 vaccine which has been authorized for emergency use by regulators, including those in the U.S., U.K. and European Union.
"I think this year will be a catalyst-rich year," said Zhiqiang Shu, a senior biotech analyst at Berenberg Capital Markets.
"The Covid vaccine definitely is part of the story," he told CNBC's "Squawk Box Asia" on Tuesday.