PFE - BioNTech Touts Its Oncology Shift After Reporting Disappointing Fourth Quarter Financials | Benzinga
BioNTech SE (NASDAQ: BNTX) is way past its glorious Covid-19 days, when it thrived with Pfizer Inc (NYSE: PFE) for saving the world from the pandemic with their jointly developed vaccine. On Wednesday, BioNTech reported a revenue and earnings drop as it continues its shift towards cancer drug development, much like its peer Pfizer who also turned to oncology in response to falling sales. In January, Pfizer revealed that sales of the COVID shot plummeted 54% to $5.36 billion. Upon its latest report that was a far cry from estimates, BioNTech’s shares tanked 9%.
Fourth Quarter Highlights
For the quarter ended on December 31st, BioNTech reported fourth quarter revenues of 1.5 billion euros which equates to about $1.6 billion. As for the full year, BioNTech reported ...