BioNTech dips as sales and earnings decline
Shares of German mRNA technologies pioneer BioNTech (Nasdaq: BNTX) were down 4.3% at $128.20 pre-market today as it revealed financial results for the fourth quarter and full year 2022.
Toral revenues for the quarter were down 22.7% at 4,278.3 million euros ($4.6 billion) compared to 5,532.5 million euros for the like prior year period. For the full year, total revenues declined 8.8% to 17,310.6 million euros. The change corresponds with the demand for COVID-19 vaccines, developed and marketed in partnership with Pfizer (NYSE: PFE) under the trade name Comirnaty.
Fourth-quarter net profits came in at 2,278.7 million euros, a fall of 28%. Diluted earnings per share (EPS) also fell to 9.26 euros from 12.18 euros in the fourth quarter of 2021, the company said.
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