Among the reasons for the worse-than-expected results, the market points to weakening demand for vaccines against Covid-19 and the company’s increased spending on the development of new products.
BioNTech’s weak quarterly results
BioNTech, a German company from Mainz, reported a second-quarter loss of 3.36 euros per share, according to a company report Monday. Analysts surveyed by Bloomberg had expected a much smaller loss of 2.01 euros per share. The market is also disappointed with the company’s second-quarter sales, which amounted to 128.7 million euros.
Covid-19 vaccine
Lower sales vaccines against Covid-19, which are the main revenue driver for BioNTech, affected the company’s financial results. BioNTech explains that in the current period there is a seasonal decline in demand for vaccines, which will be higher in the later months of the year and will account for about 90 percent of annual revenue.
Melanoma treatment
BioNTech became famous after it was launched together with Pfizer during coronavirus pandemic has developed a two-dose vaccine against Covid-19. Today BioNTech changes the focus and wants to focus on new products related to cancer treatment. FThe company is expected to present new solutions in this area in 2026. This concerns the treatment of advanced forms of melanoma. BioNTech researchers have achieved good results in the medium-stage studies.
According to the company’s statement, about 90 percent of the R&D expenses incurred in the second quarter were allocated to projects unrelated to Covid-19.
Competition with Moderna
Currently BioNTech company still working with Pfizer over pcombined Covid and flu vaccine. Analysts say the timing of the presentation of final-phase trial results will be very important because the company’s main competitor, Moderna, wants to apply for registration of a similar vaccine in the second half of the year.
