Like Moderna, BioNTech Cuts Annual Sales Forecast By 20% As Pandemic Fades
Portfolio Pulse from Vandana Singh
BioNTech SE has reported Q3 revenues of €895.3 million, down from €3.461 billion a year ago, and cut its annual sales forecast by 20% due to the fading pandemic. Inventory write-downs by Pfizer reduced BioNTech's revenues. BioNTech also flagged write-downs of up to €900 million, similar to Pfizer. Moderna also cut its forecast due to weaker COVID-19 vaccine demand. BioNTech and Pfizer released positive results from a Phase 1/2 study of mRNA-based combination vaccine candidates for influenza and COVID-19. BioNTech lowered its FY23 Covid-19 vaccine revenue guidance to around €4 billion.
November 06, 2023 | 3:01 pm
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NEGATIVE IMPACT
BioNTech's Q3 revenues are down and it has cut its annual sales forecast by 20%. The company's revenues were also impacted by inventory write-downs by Pfizer.
The decrease in Q3 revenues and the cut in annual sales forecast indicate a negative short-term impact on BioNTech's stock. The inventory write-downs by Pfizer, which reduced BioNTech's revenues, also contribute to this negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Moderna also cut its forecast due to weaker COVID-19 vaccine demand, similar to BioNTech.
The cut in forecast due to weaker COVID-19 vaccine demand indicates a negative short-term impact on Moderna's stock.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Pfizer's inventory write-downs reduced BioNTech's revenues. However, Pfizer and BioNTech released positive results from a Phase 1/2 study of mRNA-based combination vaccine candidates.
While Pfizer's inventory write-downs had a negative impact on BioNTech's revenues, the positive results from the mRNA-based vaccine study could potentially offset this negative impact in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70