BioNTech down as 3rd-qtr sales slump
Shares of Germany-based BioNTech (Nasdaq: BNTX) were down 6.8% at $147.48 in pre-market New York trading as it reported third-quarter 2022 financial results, showing that sales and profits were almost half those of the comparable 2021 quarter figures.
The company, which sprung into the spotlight as being the developer of the biggest selling COVID-19 vaccine, Comirnaty, which is partnered with Pfizer (NYSE: PFE), reported net sales were 3,461 million euros ($3,426 million) for the three months compared with 6,087 million euros in third-quarter 2021. As expected, said BioNTech, the course of the pandemic remains dynamic and led to fluctuations in quarterly revenues. For the nine months ended September 30, total revenues were 13,032 million euros, versus 13,444 million euros in the like 2021 period.
Third-quarter net profit was 1,784.9 million euros, versus 3,211 million). Diluted earnings per share were 6.98 euros, compared with 12.35 euros.
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