Trending: BioNTech Reports Surprise Profit, Cuts Outlook
07 November 2023 - 6:22AM
Dow Jones News
13:51 EST -- Covid vaccine maker BioNTech is one of the most
mentioned companies in the U.S. across all news items in the last
12 hours, according to Factiva data. BioNTech reported a surprise
third-quarter profit and better-than-expected sales, leading its
stock to surge. But BioNTech cut its 2023 guidance, expecting 4
billion euros in sales of the Pfizer-partnered Covid shot, about
$4.29 billion, down from previous guidance for EUR5 billion.
BioNTech noted fewer people are getting primary vaccinations and
population-wide boosting is much lower. BioNTech is now focusing on
areas outside its Covid vaccine. "Our strategy focuses on
assembling a diverse toolbox of complementary technologies to
deliver novel therapies, aiming to improve the standard-of-care for
cancer patients," Chief Executive Ugur Sahin said. Dow Jones &
Co. owns Factiva. (matthew.walker@dowjones.com)
(END) Dow Jones Newswires
November 06, 2023 14:07 ET (19:07 GMT)
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