FRANKFURT (Reuters) -German biotech firm BioNTech on Monday said that second-quarter revenues more than doubled to 261 million euros ($302 million), driven by higher revenues from its COVID-19 vaccine
BioNTech Sees Q2 Revenues Surge to 261 Million Euros Amid Vaccine Sales
BioNTech's Financial Performance in Q2
FRANKFURT (Reuters) -German biotech firm BioNTech on Monday said that second-quarter revenues more than doubled to 261 million euros ($302 million), driven by higher revenues from its COVID-19 vaccine collaboration with Pfizer.
The company's quarterly net loss came in at 387 million euros, an improvement over a net loss of 808 million in the year-earlier period, which at the time was burdened by provisions for a settlement with the U.S. National Institutes of Health over vaccine royalty payments.
Lower operating expenses also helped reduce the second-quarter loss, it added.
Revenue Growth and Loss Reduction
BioNTech reiterated its guidance for 2025 revenues of 1.7 billion to 2.2 billion euros, down from 2.75 billion last year.
Strategic Acquisitions and Partnerships
BioNTech in June agreed to acquire domestic peer CureVac in a $1.25 billion share deal, boosting its work on new mRNA-based cancer treatments and quelling patent litigation brought by the takeover target.
That was shortly after Bristol Myers Squibb agreed to pay up to $11.1 billion for rights to jointly develop BioNTech's next-generation cancer immunotherapy.
($1 = 0.8654 euros)
(Reporting by Patricia Weiss and Ludwig Burger, Editing by Friederike Heine)
