BioNTech SE Posts Loss In Q2; Reiterates COVID-19 Vaccine Revenue Guidance

(RTTNews) - BioNTech SE (BNTX) posted a second-quarter net loss of 190.4 million euros, compared to profit of 1.67 billion euros, last year. Loss per share was 0.79 euros, compared to profit of 6.45 euros. Total revenues were 167.7 million euros, compared to 3.20 billion euros, last year. The company said write-offs by collaboration partner Pfizer significantly reduced its gross profit share in the second quarter and hence negatively influenced revenues for the three months ended June 30, 2023.

For the six months ended June 30, 2023, net profit was 311.8 million euros, compared to 5.37 billion euros, last year. Total revenues were 1.44 billion euros, compared to 9.57 billion euros, previous year.

"We enter the second half of 2023 with a strong financial position, on track to launch our new variant-adapted COVID-19 vaccine and to conduct multiple clinical trials with registrational potential across our oncology and infectious disease pipeline. The COVID-19 vaccine market remains highly dynamic and difficult to fully predict," said Jens Holstein, CFO of BioNTech.

The company reiterated its COVID-19 vaccine revenue guidance of approximately 5 billion euros in 2023.

Shares of BioNTech SE are down 2% in pre-market trade on Monday.

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