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BioNTech's Q2 Loss Widens Amid Low Demand For Its Pfizer-Partnered COVID-19 Vaccine, Increases R&D Spending On New Cancer Products
Monday, BioNTech SE (NASDAQ:BNTX) reported deeper losses in the second quarter of 2024, with an EPS loss of $(3.62) or (3.36) euros, missing the consensus of (1.89) euros and higher than (79) cents in the second quarter of 2023.
The company reported a net loss of 807.8 million euros compared to 190.4 million euros a year ago.
The COVID-19 vaccine maker reported sales of 128.7 million euros ($138.56 million), down from 167.7 million euros a year ago and missing the consensus of 157 million euros, reflecting a continued shift in demand from a pandemic to a seasonal endemic COVID-19 vaccine market.
Also Read: Why Is Pfizer Partner BioNTech Stock Trading Lower On Monday?
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