Biontech Se Sponsored Adr (BNTX) has released an update.
BioNTech SE reports a first quarter 2024 net loss of €315.1 million, a significant decrease from the previous year’s profit, attributing the change mainly to reduced COVID-19 vaccine sales. Despite this, the company is progressing in its oncology pipeline, with clinical trials underway and plans to introduce a variant-adapted COVID-19 vaccine in 2024. With a strong liquidity position of €16.9 billion, BioNTech is well-prepared to invest in research and development and to prepare for commercial readiness in its cancer treatment pipeline.
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