BioNTech SE (NASDAQ:BNTX) reported a second-quarter per-share loss of $1.82 (1.60 euros) on Monday, up from a loss of 3.36 euros reported a year ago, compared to beating the consensus loss of $2.42 per share.
The COVID-19 vaccine maker reported sales of $295.69 million (260.8 million euros), compared to 128.7 million euros a year ago, beating the consensus of $147.90 million.
The sales increase was mainly driven by higher revenues from BioNTech’s COVID-19 vaccine collaboration.
R&D expenses were 509.1 million euros compared to 584.6 million a year ago, mainly driven by the reprioritization of clinical trials towards focus programs.
SG&A expenses decreased to 137.4 million euros, compared to 183.8 million euros a year ago, primarily due to a reduction in external services.
Cash and cash equivalents, plus security investments, totaled 15.99 billion euros.
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Guidance For 2025
BioNTech reaffirmed its fiscal year 2025 guidance of 1.7 billion-2.2 billion euros compared to the consensus of 2.05 billion euros and revenue phasing primarily concentrated in the last three to four months.
“In the second quarter, we took significant steps to advance BioNTech into a multiproduct biotechnology company by strengthening the two pillars of our oncology strategy,” said Ugur Sahin, CEO and Co-Founder of BioNTech, in a statement Monday.
In June, BioNTech and Bristol Myers Squibb & Co. (NYSE:BMY) entered a co-development and co-commercialization agreement.
The pact focuses on BioNTech's investigational bispecific antibody, BNT327, across various solid tumor types.
“With the strategic BMS collaboration, we will further strengthen our topline and cash position. As such, we will receive an upfront cash payment of $1.5 billion in Q3 that we anticipate to be recognized as revenue over the development phase of BNT327,” said Ramón Zapata, CFO at BioNTech.
In June, BioNTech agreed to acquire CureVac N.V. (NASDAQ:CVAC) in an all-stock transaction. With the acquisition, BioNTech aims to strengthen the research, development, manufacturing, and commercialization of investigational mRNA-based cancer immunotherapy.
Last week, the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) recommended marketing authorization for BioNTech and its partner Pfizer Inc.’s (NYSE:PFE) LP.8.1-adapted monovalent COVID-19 vaccine (COMIRNATY LP.8.1).
Price Action: BNTX stock is up 4.99% at $112.70 at the last check on Monday.
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