BioNTech Issues 2024 Revenue Guidance - Quick Facts

(RTTNews) - BioNTech SE (BNTX) said it projects total company revenues of approximately 3 billion euros for financial year 2024, mainly driven by the COVID-19 vaccine franchise which is expected to remain profitable given the cost sharing structure with its partner Pfizer Inc.

BioNTech ended 2023 with approximately 17.5 billion euros in cash, cash equivalents and security investments. The company plans to maintain a strong financial position and generate significant interest income in 2024.

BioNTech plans to grow topline again in 2025. In the outer years, the company projects revenues derived from both oncology and respiratory combination vaccine launches, which are subject to successful development and regulatory approval.

"Currently, late-stage trials are ongoing in multiple oncology indications, and we plan to have ten or more potentially registrational trials in our pipeline by the end of 2024," said Ugur Sahin, CEO and Co-Founder of BioNTech.

The company plans to provide detailed full year 2024 financial guidance during full year and fourth quarter 2023 financial results call on March 20, 2024.

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