BioNTech (BNTX.US) stock erased early losses and rose over 1.0% on Monday even despite the fact that the biotechnology company reported a 43% decline in Q3 sales from a year ago and 44% fall in net profit.
-
Diluted earnings per share in the third quarter amounted to €6.98,
-
Net profit came to €1.78 billion, down from €3.21 billion in the same period in 2021. Nevertheless both metrics topped FactSet analysts’ estimates.
-
Operating income came in at €2.38 billion, which is a 49% decline compared to last year.
-
"Thanks to our strong execution in the third quarter of 2022, we updated our COVID-19 vaccine revenue guidance for the year 2022 to the upper end of the original range," said CFO Jens Holstein.
-
Company now expects full-year Covid-vaccine revenue of €16 billion-€17 billion ($16 billion-$17 billion), from €13 billion-€17 billion previously.
-
Drugmaker revealed that approximately 300 million doses of it and Pfizer’s bivalent vaccine had been invoiced as of mid-October.
-
Nevertheless a lot will depend on booster demand. Recent data from Centers for Disease Control and Prevention showed that less than 10% of adults in the US have gotten an updated booster shot. Among people who turned 65 years, less than one quarter received a booster shoot.
BioNTech (BNTX.US) stock rose sharply last week following the news that China approved BioNTech’s Covid-19 vaccines for foreign residents. Positive sentiment prevails today, and as long as price sits above the 200 SMA (red line), another upward impulse may be launched towards major resistance at $184.70, which is marked with previous price reactions. Source: xStation5
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
