BioNTech SE
For the nine months, total revenues were €2.34 billion, compared to €13.03 billion for the comparative prior year period.
Inventory write-downs by BioNTech's collaboration partner Pfizer Inc
The company reported an EPS of €0.67 (around $0.73, beating the consensus of $0.62), a steep decline from €6.98 a year ago.
Last month, BioNTech flagged write-downs of up to €900 million, reflecting similar charges to Pfizer.
BioNTech will likely "recognize the effect of Pfizer's inventory write-offs and other charges related to Comirnaty in Q3 2023 up to €0.9 billion, which represents BioNTech's half of the gross profit-sharing agreement with Pfizer," it said in a statement.
Last week, Moderna
Last month, Pfizer and BioNTech released topline results from a Phase 1/2 study of mRNA-based combination vaccine candidates for influenza and COVID-19 among healthy adults.
The data from the trial showed that the companies' lead formulations demonstrated robust immune responses to influenza A, influenza B, and SARS-CoV-2 strains.
Guidance: BioNTech lowers its FY23 Covid-19 vaccine revenue guidance to around €4 billion, down from prior guidance of approximately €5 billion.
It expects R&D expenses of €1.8 billion-€2 billion, down from prior guidance of €2.4 billion-€2.2 billion, and SG&A expenses forecasted at €600 million-€650 million, down from €600 million-€700 million.
The company sees capex of €200 million-€300 million, down from prior guidance of €350 million- €450 million.
Concurrently, Biotheus entered an exclusive global license and collaboration agreement with BioNTech for PM8002 globally (ex-Greater China). Biotheus retains the rights to exploit PM8002 in Greater China. PM8002 is currently in Phase 2 studies in China to evaluate the efficacy and safety of the candidate as a monotherapy or in combination with chemotherapy in patients with advanced solid tumors.
Biotheus will receive an upfront payment of $55 million and is eligible for an additional milestone payment of over $1 billion.
Price Action: BNTX shares are up 6.49% at $102.10 on the last check Monday.