BioNTech lowers 2026 sales outlook as COVID vaccine demand softens
BioNTech's Financial Performance and Revised Outlook
BERLIN, Aug 4 (Reuters) - German vaccine maker BioNTech significantly lowered its full year sales outlook range on Tuesday due to softer-than-expected COVID-19 vaccine demand, as second quarter revenue fell by more than half and its net loss more than doubled.
Stock Market Reaction
Shares were down 5.5% at 1106 GMT following the results.
Updated Revenue Guidance
The company, which this week announced it had picked Guido Oelkers as its next CEO, now expects 2026 revenue between €1.6 billion and €1.9 billion ($1.84 billion-$2.19 billion) versus the €2 billion to €2.3 billion it had guided for in March.
Factors Behind the Revised Guidance
In addition to lower demand for its COVID-19 vaccine, it also cited the use of existing vaccine stockpiles in Germany and the deferral of milestone payments as reasons for the revised guidance.
Quarterly Financial Results
Revenue and Net Loss
Quarterly revenue slumped to €105.6 million, down from €260.8 million the year before, while the company's net loss expanded to €820.8 million in the quarter through June.
Cost Management Measures
BioNTech is now reining in spending, with adjusted R&D costs for the full year projected to be between €2.0 billion and €2.3 billion, down from a previous estimate of up to €2.5 billion.
Currency Exchange Rate
($1 = 0.8688 euros)
Reporting Credits
(Reporting by Miranda Murray and Patricia Weiss; Editing by Linda Pasquini)
