BioNTech SE (BNTX) has released an update.
BioNTech SE has reported a net loss of €807.8 million in Q2 2024, with earnings down due to a transition from pandemic to seasonal COVID-19 vaccine demand, while still maintaining a robust cash position of €18.5 billion. Despite the net loss, the company is investing heavily in R&D, particularly in mRNA oncology programs, and has reiterated its revenue guidance for 2024 at €2.5-3.1 billion. BioNTech continues to progress in its oncology pipeline and has begun the commercialization of variant-adapted COVID-19 vaccines.
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