BNTX.O

BioNTech Reports Third Quarter 2024 Financial Results

authorIntellectia.AI

2024-11-042mins

BioNTech Reports Third Quarter 2024 Financial Results

BioNTech SE (NASDAQ: BNTX) released its financial results for the third quarter ended September 30, 2024.

Key Financial Metrics:

Metric Q3 2024 Q3 2023 YoY Change
Total Revenue €1.2 billion €895.3 million +38.9%
Net Profit €198.1 million €160.6 million +23.4%
Diluted Earnings Per Share €0.81 ($0.89) €0.66 +22.7%

BioNTech exceeded year-over-year revenue growth, largely due to prior approvals of its variant-adapted COVID-19 vaccines.

Revenue Performance by Segment:

Segment Q3 2024 Revenue Comparison
COVID-19 Vaccine Sales Included Manufacturer attributes high third-quarter revenues to timely vaccine launches.
R&D Programs Initiatives like BNT327/PM8002 and individualized cancer vaccines show progress. Efforts have led to advanced trial phases.

Operational Highlights:

  • Successful launch of variant-adapted COVID-19 vaccines for 2024/2025.
  • Initiated Phase 2 trials for BNT327/PM8002 in various cancers.
  • Phase 2 trial continues for mRNA vaccine BNT111.
  • New AI approaches were presented during BioNTech’s AI Day.

Executive Comments:

CEO Prof. Ugur Sahin highlighted critical strategic progress, emphasizing the launch of variant-adapted COVID-19 vaccines and oncology pipeline advancements. CFO Jens Holstein noted that disciplined costs will sustain focus on promising assets.

Dividends and Buyback Programs:

No dividends or share repurchase programs were announced in this release.

Forward Guidance:

The company expects to be at the lower end of its full-year revenue guidance (€2.5-3.1 billion) and reaffirms R&D and SG&A expense estimates.

Stock Price Movement:

Following the earnings announcement, BioNTech's stock experienced a decline of approximately 1.43%.

BioNTech continues to leverage its strong position in vaccines, particularly in response to the evolving COVID-19 landscape, while pursuing progress in its oncology pipeline through strategic R&D investments.

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