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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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
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