BioNTech 2nd-qtr sales plummet, as the biotech turns in a loss

Germany’s BioNTech (Nasdaq: BNTX), which shot into the limelight with the development of the first and most successful COVID-19 vaccine, Comirnaty, partnered with Pfizer (NYSE: PFE), today reported financial results for the three months ended June 30, 2023.

BioNTech shares were down more than 6% at $99.82 in pre-market activity following the announcement.

Total revenues reported were 167.7 million euros ($184.8 million) for the second quarter, well short of FactSet consensus of 628.1 million euros, and compared to 3,196.5 million euros for the comparative prior year period, as well as a swinging to a net loss of 190.4 million euros that beat forecasts. The earnings per share (EPS) loss was 0.79 euros, versus, 6.45 euros profit a share the year earlier.