BNTX - BioNTech projects Euro5B revenue from Pfizer-partnered COVID shot this year

2023-03-27 07:29:26 ET

BioNTech ( NASDAQ: BNTX ), the German partner of Pfizer ( PFE ) for the Comirnaty COVID vaccine, lost ~3% pre-market Monday after announcing its Q4 2022 financials and projecting that its share of vaccine revenue could reach ~€5B this year.

Comirnaty, BioNTech’s ( BNTX ) only commercialized product helped the company to record ~€4.2B and ~€17.3B revenue for Q4 2022 and the full year, implying ~23% YoY and ~9% YoY decline, respectively.

During 2022, Pfizer ( PFE ) and BNTX have sold ~2B doses of Comirnaty, including ~550M doses of the Omicron-adjusted version.

“We made significant progress in 2022 by advancing our pipeline and launching the world’s first Omicron BA.4/BA.5 adapted bivalent COVID-19 vaccine,” Chief Executive Ugur Sahin noted.

As the pandemic’s impact wanes, the company anticipates fewer primary vaccinations and lower boosting levels. Revenue generation is expected to move significantly to the latter half of the year as the demand becomes more seasonal.

The company reported ~€2.3B and ~€9.4B in net profit for Q4 2022 and the full year, implying ~28% YoY and ~8% YoY drop, respectively, while its cash and equivalents stood at €13.9B compared to €1.7B a year ago.

BioNTech ( BNTX ) also announced a share repurchase program worth up to €0.5B for the remainder of the year.

In January, Pfizer ( PFE ) projected its Comirnaty revenues for 2023 could reach ~$13.5B, marking a 64% decline from 2022.

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