Biontech stock
BIONTECH SE ADR
-3.58%
closure:0
opening:123.2
High:123.61
low:119.98
cycle:—
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Falling in trading despite good quarterly profits of the German biotech group, this after investors focused on the company’s forecast this year for sales of corona vaccines.
As mentioned, Biontec shares are falling in trading after the company reported a profit of 9.26 euros ($9.97) per share in the fourth quarter on revenues of 4.28 billion euros. These are significantly better results than the profit of 7.78 euros per share on revenues of 3.65 billion euros expected by the analysts.
“We made significant progress in 2022 by advancing our pipeline and launching the world’s first Omicron BA.4/BA.5 adapted bivalent vaccine for corona,” said Ugur Sahin, the company’s founder and CEO. “As we look ahead to 2023 and beyond, we plan To continue investing in our transformation while focusing on building commercial capabilities in oncology and working towards registration trials.”
Biotech, as well as Pfizer
PFIZER
-0.27%
closure:0
opening:40.51
High:40.62
low:40.12
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developed the first corona vaccine approved in the US, and it relies on vaccine sales as a significant factor in its overall revenue. The group expects corona vaccine revenue to be around €5 billion in 2023, which disappointed investors, and ultimately led to the share decline we are seeing now.
“Although the adaptation of the vaccine is expected to lead to increased demand, fewer primary vaccinations and a certain weakness in the resistance of the population are expected,” the company said in its forecast. At the same time, it seems that the news does not weigh too much on Pfizer’s stock, since it is not falling as sharply as Biontec as of this hour.
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