BioNTech Q4 Net Profit Plummets

RTTNews | 244 dias atrás

(RTTNews) - Immunotherapy company Biopharmaceutical New Technologies or BioNTech SE (BNTX) announced Wednesday a profit for the fourth quarter that plummeted from last year, reflecting sharply lower global delivery of its COVID-19 vaccine. The company also initiated its group revenue guidance for the full-year 2024.

In Wednesday's pre-market trading on Nasdaq, BNTX was trading at $89.23, down $4.89 or 5.20 percent.

For the fourth quarter, the company reported a net profit of 457.9 million euros or 1.90 euros per share, sharply lower than 2.28 billion euros or 9.26 euros per share in the prior-year quarter.

Total revenues for the quarter plummeted to 1.48 billion euros from 4.28 billion euros in the same quarter last year, mainly due to sharply lower demand for COVID-19 vaccines.

Inventory write-downs by BioNTech's collaboration partner Pfizer, Inc. reduced BioNTech's revenues by 291.3 million euros for the quarter.

The company delivered over 400 million COVID-19 vaccine doses worldwide in 2023, including the successfully launched XBB.1.5 variant-adapted monovalent COVID-19 vaccine.

The company noted that it expects to spend 2.4 billion to 2.6 billion euros in R&D during the 2024 financial year.

Looking ahead to fiscal 2024, the company now projects group revenues in a range of 2.5 billion to 3.1 billion euros. BioNTech said its oncology pipeline currently contains 10 ongoing Phase 2 and 3 trials. In 2024, the Company expects to continue building its pipeline towards its planned first oncology launch in 2026. BioNTech aims to have ten oncological indication approvals by 2030.

Separately, BioNTech said its Supervisory Board appointed Annemarie Hanekamp to the Management Board as Chief Commercial Officer, effective July 1, 2024. She will join BioNTech from Novartis AG and succeed Sean Marett in this role.

Prior to Novartis, Hanekamp held a pivotal role in evolving the company's U.S. oncology strategy at Bristol-Myers Squibb Co.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

Marcadores : BNTX

FDA Approves Updated Pfizer, Moderna Covid Vaccines Against Current Variants

The U.S. Food and Drug Administration approved and granted emergency use authorization or EUA for updated Covid vaccines from Pfizer Inc. and ModernaTX Inc. for use against currently circulating variants. The approval for the updated mRNA COVID-19 vaccines (2024-2025 formula) comes as the Covid cases are surging in the United States.

RTTNews | 88 dias atrás

Pfizer, BioNTech Announce Top-line Results In Phase 3 Trial Of MRNA-based Combination Vaccine

Drug giant Pfizer Inc. (PFE) and BioNTech SE (BNTX) announced Friday top-line results from their Phase 3 clinical trial to evaluate the companies' combined mRNA vaccine candidate against influenza and COVID-19 in healthy individuals 18-64 years of age.

RTTNews | 95 dias atrás

BioNTech And CEPI Expand Strategic Partnership To Boost African Vaccine Ecosystem

BioNTech SE (BNTX) and the Coalition for Epidemic Preparedness Innovations or CEPI, announced Wednesday they are expanding their strategic partnership to contribute to building a sustainable and resilient end-to-end African vaccine ecosystem.

RTTNews | 174 dias atrás

BioNTech Slips To Loss In Q1

Immunotherapy company Biopharmaceutical New Technologies or BioNTech SE (BNTX) reported Monday a net loss of 315.1 million euros or 1.31 euros per share for the first quarter, compared to net profit of 502.2 million euros or 2.05 euros per share in the prior-year quarter.

RTTNews | 197 dias atrás

BioNTech To Initiate Phase 1/2 Clinical Trial Of MRNA-based Mpox Vaccine Program BNT166

BioNTech SE (BNTX) and the Coalition for Epidemic Preparedness Innovations (CEPI) announced Monday a strategic partnership to advance mRNA-based vaccine candidates with the development of BNT166 for the prevention of mpox (formerly monkeypox)

RTTNews | 428 dias atrás

FDA Authorizes Changes To Simplify Use Of Moderna, Pfizer Bivalent COVID-19 Vaccines

The U.S. Food and Drug Administration said it has amended the emergency use authorizations or EUAs of COVID-19 bivalent mRNA vaccines of ModernaTX Inc. and Pfizer-BioNTech to simplify the vaccination schedule for most individuals. With the changes, the current bivalent vaccines, for original and omicron BA.4/BA.5 strains, can be used for all doses administered to individuals 6 months of age and...

RTTNews | 580 dias atrás

FDA Authorizes Bivalent Pfizer Covid Vaccine As Booster Dose For Select Children Under 5

The U.S. Food and Drug Administration has authorized bivalent Pfizer-BioNTech covid-19 vaccine as booster dose for certain children 6 months through 4 years of age. In a statement, the health regulator said it has amended the emergency use authorization or EUA of the Pfizer-BioNTech COVID-19 Vaccine, Bivalent. According to the agency, children 6 months through 4 years of age who completed ...

RTTNews | 615 dias atrás

Pfizer Seeks FDA Approval For Bivalent COVID-19 Vaccine In Kids Under 5

Vaccine partners Pfizer Inc. and BioNTech SE are seeking emergency use authorization or EUA from the U.S. Food and Drug Administration to offer their bivalent COVID-19 vaccine to children 6 months through 4 years of age. If authorized, the vaccine would be part of a primary series for children in this age group.

RTTNews | 714 dias atrás

EURUSD	1.05688	GBPUSD	1.26374	AUDUSD	0.6494
USDJPY	154.181	USDCAD	1.40219	USDCHF	0.88312