BioNTech’s Outlook Gives Vaccine Maker a Shot in the Arm – Investopedia

American depositary receipts (ADRs) of BioNTech(BNTX) were down less than 1% in intraday trading Monday after the COVID-19 vaccine maker shrugged off losses and tumbling sales in the first quarter, giving a positive outlook for the year.

The German biotech firm, which collaborated with Pfizer (PFE) on a COVID-19 vaccine, reported a loss per share of 1.31 euros ($1.41), with revenue plunging 85% year-over-year to EUR187.6 million ($202.3 million). Both were worse than expected as demand for the shot slumped since the end of the pandemic.

However, CFO Jens Holstein said that first-quarter revenues reflect the seasonal demand for COVID-19 vaccines, and we expect to recognize approximately 90% of our full year revenues in the last months of 2024, mostly in Q4 of 2024.

Holstein added that the company has a strong cash position of EUR16.9 billion ($18.2 billion), which he argued makes it well positioned to expand its business into treatments for cancer.

The company affirmed its full-year guidance of revenue between EUR2.5 billion and EUR3.1 billion ($2.7 billion and $3.3 billion).

BioNTech ADRs have lost about 13% of their value in 2024.

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BioNTech's Outlook Gives Vaccine Maker a Shot in the Arm - Investopedia