Why BioNTech (BNTX) Shares Are Trading Lower Today - BioNTech (NASDAQ:BNTX)

BioNTech SE BNTX shares are falling in the premarket session today after the company reported Q4 earnings and expected lower annual revenue from the Covid-19 vaccine.
BioNTech reported Q4 FY22 revenues of €4.28 billion, down from €5.5 billion a year ago, due to the changes in the demand for COVID-19 vaccines.
Full-year revenues reached €17.3 billion, down from €18.9 billion a year ago.
The company posted Q4 diluted EPS of €9.26, down from €12.18 a year ago.
Approximately 2 billion doses of Comirnaty, the COVID-19 vaccine, were invoiced in 2022, including approximately 550 million doses of Omicron-adapted bivalent COVID-19 vaccines.
Ugur Sahin, BioNTech's co-founder & CEO, said, "As we look to 2023 and beyond, we plan to continue investing in our transformation with a focus on building commercial capabilities in oncology and working towards registrational trials. Our mid-term goal is to seek approval for multiple oncology products in cancer indications with high unmet medical needs."
Related: Additional COVID-19 Booster Shots? Officials Anticipate FDA Authorization Within Few Weeks.
BioNTech expects to authorize a share repurchase program of up to $0.5 billion during the remainder of 2023.
Outlook: BioNTech expects FY23 COVID-19 vaccine revenue of approximately €5 billion compared to €17.1 billion in 2022.
Price Action: BNTX shares are down 3.32% at $123.93 during the premarket session on the last check Monday.
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Why BioNTech Shares Are Trading Lower Today