BioNTech cuts vaccine sales forecast further
Shares of German biotech BioNTech (Nasdaq: BNTX) were up 5.3% at $100.91, despite joining the list of companies with downturned sales and earnings as the COVID-19 pandemic subsides.
Having earned billions through its collaboration with Pfizer (NYSE: PFE) from the most successful vaccine, Comirnaty, BioNTech today reported that, for the third quarter of 2023 sales were just 895.3 million euros ($960 million), compared to 3,461.2 million euros for the comparative prior year period.
Net profit was 160.6 million euros for the three months ended September 30, 2023, compared to 1,784.9 million euros in the like, year-earlier period.
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