BioNTech (BNTX) Stock Fluctuates Amidst Covid Sales Decline, Yet 90% Revenue Potential Remains Untapped

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BioNTech (BNTX) stock experienced fluctuations on Monday following a disappointing Q1 performance.
Comirnaty, the Covid vaccine developed in partnership with Pfizer (PFE), saw an 86% drop in sales to $202 million.
BioNTech reported a larger-than-expected loss at $1.41 per share, surpassing the projected loss of $1.34 per share.

BioNTech stock sees a dip following a disappointing Q1 performance, with a significant drop in sales of its Covid vaccine, Comirnaty. Despite a larger-than-expected loss, the company maintains its outlook for the year.

Yearly Outlook Maintained Despite Q1 Performance

Despite the disappointing Q1 results, BioNTech has maintained its outlook for the year. The company expects to generate between 2.5 billion to 3.1 billion euros, or approximately $2.7 billion to $3.34 billion, based on current exchange rates. This projection aligns with the forecast of BioNTech stock analysts, who predict a revenue of $3.01 billion. CFO Jens Holstein stated that the company anticipates recognizing about 90% of its full-year revenue in the last months of 2024, primarily in the fourth quarter.

Investment in Research and Development Despite Losses

Despite the losses, BioNTech plans to continue investing in its innovative research and development pipeline. With a strong cash position of 16.9 billion euros, the company is well-positioned to scale its business and prepare for commercial readiness in oncology. Following the opening of the stock market, BioNTech stock was down a f... Read the full article for FREE at COINOTAG!