BioNTech Touts Its Oncology Shift After Reporting Disappointing Fourth Quarter Financials [Yahoo! Finance]
BioNTech SE - American Depositary Shares (BNTX)
Company Research
Source: Yahoo! Finance
On Wednesday, BioNTech reported a revenue and earnings drop as it continues its shift towards cancer drug development, much like its peer Pfizer who also turned to oncology in response to falling sales. In January, Pfizer revealed that sales of the COVID shot plummeted 54% to $5.36 billion. Upon its latest report that was a far cry from estimates, BioNTech's shares tanked 9%. Fourth Quarter Highlights For the quarter ended on December 31st, BioNTech reported fourth quarter revenues of 1.5 billion euros which equates to about $1.6 billion. As for the full year, BioNTech reported 2023 revenue amounted to 3.819 billion euros which equates to about $4.14 billion. However, BioNTech still pulled out a net profit both for the fourth quarter and all of 2023. For the full year, net income plummeted 90% YoY but BioNTech still earned 930.3 million euros, which is about $1 billion. As for the fourth quarter, it also reported a net profit of 458 million euros which equates to about $497 mill
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News
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- Scholz promises support for pharma sector in Germany as Merck invests [Reuters]Reuters
- Scholz promises support for pharma sector in Germany as Merck invests [Yahoo! Finance]Yahoo! Finance
- BioNTech to Report First Quarter 2024 Financial Results and Corporate Update on May 6, 2024GlobeNewswire
- BioNTech SE (NASDAQ: BNTX) had its "buy" rating re-affirmed by analysts at HC Wainwright. They now have a $107.00 price target on the stock.MarketBeat
BNTX
Earnings
- 3/20/24 - Miss
BNTX
Sec Filings
- 4/8/24 - Form 6-K
- 4/8/24 - Form 6-K
- 3/25/24 - Form 6-K
- BNTX's page on the SEC website