BioNTech posts better-than-expected 3rd-qtr 2024 results
German biotech BioNTech (Nasdaq: BNTX) saw its shares rise more than 3% to $114.98 pre-market today, as it reported financial results for the three months ended September 30, 2024, that beat expectations.
Revenues came in at 1,244.8 million euros ($1,351.8 million) for the three months, up 39%compared to 895.3 million euros for the comparative prior year period. The higher revenues can be largely attributed to the earlier approvals received for its variant-adapted COVID-19 vaccines compared to last year.
Net profit was 198.1 million euros, up 23.3% compared to 160.6 million for the comparative prior year period. Diluted earnings per share (EPS) were 0.81 euros compared to 0.66 euros for the comparative prior year period.
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