The German biotechnology company BioNTech saw its net loss increase by more than 2.1 times and its revenue fall by almost 2.5 times in the second quarter, with both its adjusted loss and revenue falling short of market expectations.
According to the company’s press release, the net loss for April–June amounted to EUR820.8 million, or EUR3.24 per share, compared with EUR386.6 million, or EUR1.6 per share, for the same period last year. The adjusted loss rose to EUR2.22 from EUR1.45 per share.
Revenue fell to EUR105.6 million from EUR260.8 million a year earlier.
Analysts surveyed by FactSet had, on average, expected a loss of EUR1.99 per share on revenue of EUR157.8 million.
BioNTech has downgraded its full-year forecast amid weak demand for COVID-19 vaccines and now expects revenue for 2026 to be in the range of EUR1.6–1.9 billion (Previously, the forecast was €2–2.3 billion).
The company’s ADRs fell by 1.9% during pre-market trading on the Nasdaq on Tuesday. Over the past 12 months, they have fallen by 16.9%.