BioNTech (NASDAQ: BNTX) reported revenues of €3.46 billion in the third quarter, a fall of 43.1% year-over-year. Diluted earnings came in at €6.98 for the German biotechnology company, again a decline of 43.5% year-over-year.
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Prof. Ugur Sahin, M.D., CEO and Co-founder of BioNTech stated, “I would like to thank our growing BioNTech team for their outstanding performance in the first nine months of 2022 which allowed us to be the first Company to provide access to a BA.4/BA.5 variant adapted bivalent vaccine at an unprecedented speed. We are working to leverage this experience and apply the lessons learned from the development of Omicron-adapted vaccines to other disease areas and product candidates.”
The only silver lining to BioNTech’s disappointing Q3 results was that the company raised its FY22 outlook for revenues generated from its COVID-19 vaccine to between €16 billion and €17 billion versus its prior guidance in the range of €13 billion to €17 billion.
