BioNTech SE (Nasdaq: BNTX) reported today its financial results for Q3 2021, highlighting quarterly revenue of €6.1 billion. This figure is higher than Q3 2020’s revenue of €67.5 million.
The German biotech firm attributes the significant year-on-year revenue jump on the increase of the COVID-19 vaccine it helped develop with American pharmaceutical giant Pfizer Inc. (NYSE: PFE). Breaking the topline quarterly revenue figure, commercial revenues contributed the lion’s share with €6.0 billion, a jump from last year’s €7.8 million.
The company also ended the quarter with €3.2 billion net income, an increase from a net loss of €210.0 million for the same comparable period last year. The quarterly net income translates to €12.35 earnings per diluted share.
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At quarter’s end, the firm has a cash and cash equivalents balance of €2.4 billion coming from a starting balance of €914.1 million, with the influx of cash mainly due to the net income. This puts the balance of the current assets at €13.6 billion while current liabilities came in at €4.9 billion.
In September 2021, the firm announced that the phase 2/3 clinical trial for its COVID-19 vaccine that had been administered to children 5 to 11 years of age showed, “favorable safety profile and robust neutralizing antibody responses”.
However, the firm’s stock price recently dived by as much as 20% after a whistleblower allegedly exposed “incompetence in data handling and patient safety” during the trials for its COVID-19 vaccine. This is surmised to be aggravated by Pfizer’s announcement of trial results for its COVID-19 pill Paxlovid.
BioNTech last traded at US$242.60 on the Nasdaq.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
