BioNTech Declares Big Losses in Q1 2024

Quarterly revenues dropped significantly to €187.6 million from €1.27 billion in the first quarter of 2023. Additionally, it stands in opposition to the €502.2 million net profit realised in the identical time frame the year prior.

As customer demand for the company’s Covid-19 vaccine lowers to an consistent level worldwide, the main reason for the slump is the decreased commercial earnings from distribution of the vaccine.

BioNTech CEO Ugur Sahin Commented: “In the past weeks, we have reported positive preliminary data for both our individualised and off-the-shelf mRNA-based candidates which further underline the potential of our iNeST and FixVac platforms. We look forward to providing more updates this year across our oncology portfolio, including our bispecific antibody and ADC programmes.”

He continued “In the remainder of the year, we plan to develop and commercialise a variant-adapted Covid-19 vaccine and accelerate our clinical development activities towards realising the full potential of our oncology pipeline with a view to becoming a commercial company with marketed medicines for cancer and infectious diseases.”