• 12-Jun-2024

Like Moderna, BioNTech Cuts Annual Sales Forecast By 20% As Pandemic Fades

Grand News Network | November 6, 2023

BioNTech SE (NASDAQ: BNTX) has reported Q3 revenues of €895.3 million ($974.49 million), sharply down from €3.461 billion a year ago. Analysts estimated $1.06 billion in sales

For the nine months, total revenues were €2.34 billion, compared to €13.03 billion for the comparative prior year period

Inventory write-downs by BioNTech's collaboration partner Pfizer Inc (NYSE: PFE) reduced BioNTech's revenues by €507.9 million and €615.4 million for the three and nine months ended September 30, 2023, respectively.

The company reported an EPS of €0.67 (around $0.73, beating the consensus of $0.62), a steep decline from €6.98 a year ago.

Last month, BioNTech flagged write-downs of up to €900 million, reflecting similar charges to ...

Full story available on Benzinga.com

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