On Tuesday, BioNTech SE BNTX outlined priorities at the Annual J.P. Morgan Healthcare Conference and said it expects to grow its topline again in 2025.
In the outer years, the company projects revenues from oncology and respiratory combination vaccine launches, subject to successful development and regulatory approval.
Pfizer Inc's PFE partner for COVID shots forecasts FY24 total revenue of €3 billion, down from €4 billion targeted for 2023.
Citing at least ten late-stage cancer drug studies targeted by the end of 2024, BioNTech said it plans to launch its first oncology drugs from 2026 onwards.
"We continued our vaccine leadership in the fight against COVID-19 and significantly expanded our mid- and late-stage oncology pipeline," said Ugur Sahin, BioNTech's CEO and co-founder.
Currently, late-stage trials are ongoing in multiple oncology indications, and we plan to have ten or more potentially registrational trials in our pipeline by the end of 2024," Sahin added.
"This year will be a year of significant execution at BioNTech as we continue to expand and develop our innovative pipeline towards our first oncology launches expected from 2026 onwards."
BioNTech ended 2023 with approximately €17.5 billion (unaudited) in cash, cash equivalents and security investments. The company plans to maintain a strong financial position and generate significant interest income in 2024.
Price Action: BNTX shares are down 3.17% at $108.33 on the last check Tuesday.
Photo via Wikimedia Commons
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