BioNTech Provides Update Regarding Pfizer's Statement On COMIRNATY-Related Write-Offs
Portfolio Pulse from Benzinga Newsdesk
BioNTech is assessing the potential impact of Pfizer's write-offs and other charges related to COMIRNATY on its financial results. The company expects to recognize the effect of these write-offs in the third quarter of 2023, which could amount to €0.9 billion. This will reduce the revenues BioNTech would report for 2023. The financial report for the third quarter of 2023 is expected to be released on November 6, 2023.
October 16, 2023 | 7:57 am
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BioNTech's financial results could be significantly impacted by Pfizer's COMIRNATY-related write-offs. The company expects to recognize up to €0.9 billion in the third quarter of 2023, which will reduce its reported revenues for 2023.
The news directly mentions BioNTech and its potential financial impact due to Pfizer's write-offs related to COMIRNATY. This could lead to a significant reduction in the company's reported revenues for 2023, which could negatively affect the company's stock price in the short term.
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