Despite Continuous Dip In Covid-19 Vaccine Sales, BioNTech Manages To Post Q1 Profit, Reaffirms Guidance

BioNTech SE BNTX reported Q1 FY23 revenues of €1.28 billion, down from €6.37 billion a year ago, mainly due to lower commercial revenues from the supply and sales of the company's COVID-19 vaccines worldwide.

The company posted Q1 diluted EPS of €2.05, down from €14.24 a year ago.

Also Read: European Union's Amended COVID-19 Vaccine Deal with Pfizer-BioNTech: Near-Monopoly Status Potential Threat to Rivals

The company says the COVID-19 vaccine franchise is focused on vaccine adaptation readiness ahead of the fall season and advancing next-generation vaccine candidates and combinations.

"In the first quarter of 2023, we expanded our toolkit of cutting-edge technologies to new modalities and added a novel immune checkpoint inhibitor candidate targeting CTLA-4 and two investigational antibody-drug conjugates to our arsenal against cancer," said Ugur Sahin said, CEO & Co-Founder.

"For the remainder of 2023, we are focused on advancing our disruptive platforms against solid tumors and accelerating clinical programs in infectious diseases of high global need," Sahin added.

Outlook: BioNTech reiterates FY23 COVID-19 vaccine revenue of approximately €5 billion compared to €17.1 billion in 2022.

Price Action: BNTX shares are up 3.57% at $112.30 during the premarket session on the last check Monday.