BioNTech's revenue surged nearly 130 times in the second quarter and raised this year's COVID-19 vaccine sales expectations | Financial News

Before the US stock market on Monday, BioNTech released its second-quarter earnings report. With the spread of COVID-19, COVID-19 vaccine sales soared, and this also caused BioNTech, which cooperated with Pfizer to produce vaccines, to skyrocket 130 times year-on-year in revenue, much higher than market expectations.

Key figures in BioNTech's second quarter earnings report are as follows:

Revenue for the quarter: 5.31 billion euros, far higher than the 41.7 million euros in the same period last year, and also higher than the market's previous forecast of 3.5 billion euros.

Operating profit for the quarter: 4.2 billion euros, higher than market expectations of 2.95 billion euros.

Net profit for the quarter: 2.79 billion euros, which turned a loss into a profit compared to last year. At that time, it was a loss of 88 million euros.

In addition, BioNTech also pointed out in its financial report that it has raised the sales forecast for the COVID-19 vaccine to 15.9 billion euros this year. The above forecast is based on the contract for the supply of about 2.2 billion doses of the vaccine that has been signed so far. Also, the reason why BioNTech's second-quarter revenue and profit data soared is mainly because the company has sold hundreds of millions of doses of the COVID-19 vaccine with its US partner Pfizer.

BioNTech CEO and co-founder Ugur Sahin said in a financial press release published on the official website that global shipments of the COVID-19 vaccine produced by the company in collaboration with Pfizer have broken through the 1 billion dose mark in just six months, and the company is also expanding the supply of the vaccine to more than 100 countries and regions around the world.

He also stated:

At the same time as the COVID-19 vaccine is being promoted, we are also making further progress in tumor vaccines. For example, we recently initiated randomized phase II clinical trials of two FixVac vaccines. We can currently advance multiple cancer vaccine projects on various technology platforms, all of which have entered the final testing stage, and may launch a series of candidate products to the market in the next few years.

In addition to the cancer vaccine, Bloomberg said after the financial report was released that BioNTech will work with Pfizer to conduct human tests on the influenza mRNA vaccine in the third quarter of this year. In addition, BioNTech is also studying malaria vaccines. The goal is to have vaccine candidates that can be tested on humans by the end of next year.

BioNTech's stock price rose after the pre-market earnings data was released, and the increase was even more obvious after the official opening of the market. At the time of writing, BioNTech's increase had expanded to about 12%, breaking the highest intraday level since the US IPO in 2019 to $435.79. If the time period is extended, BioNTech's stock price has been rising since the beginning of this year, and the performance was particularly obvious in the past July, when the stock price increased by more than 430% during the year.

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