{"id":1777,"date":"2024-03-20T15:32:24","date_gmt":"2024-03-20T15:32:24","guid":{"rendered":"https:\/\/stoxpo.com\/?p=1777"},"modified":"2024-03-20T15:32:25","modified_gmt":"2024-03-20T15:32:25","slug":"biontech-reports-revenue-plunge-as-focus-shifts-to-cancer-drugs","status":"publish","type":"post","link":"https:\/\/stoxpo.com\/index.php\/2024\/03\/20\/biontech-reports-revenue-plunge-as-focus-shifts-to-cancer-drugs\/","title":{"rendered":"BioNTech Reports Revenue Plunge as Focus Shifts to Cancer Drugs"},"content":{"rendered":"\n

Shares Fall Over 9% as Biotech Giant Transitions Away from Pandemic-Era Vaccine Sales<\/h4>\n\n\n\n

BioNTech (BNTX), the pioneering biotechnology firm behind the widely-used COVID-19 vaccine developed in partnership with Pfizer, announced a significant downturn in revenue and earnings for 2023. The German-based company’s shift towards cancer drug development led to a reported plunge in revenue by over three-quarters compared to the previous year, with net profit plummeting by 90%.<\/p>\n\n\n\n

Following the report, BioNTech shares experienced a sharp decline of over 9%. The company anticipates 2024 revenues to range between 2.5 billion to 3.1 billion euros, contingent upon regulatory developments and the ongoing uptake of COVID-19 vaccines. This projection marks a notable reduction from their initial forecast of approximately 3 billion euros for the same period.<\/p>\n\n\n\n

BioNTech outlined its strategic focus on oncology, aiming for its inaugural oncology launch by 2026 and targeting ten indication approvals by 2030. Despite the revenue setback, the company anticipates a return to revenue growth by 2025, as it navigates the declining trajectory of its COVID-19 vaccine business and ramps up investments in oncology.<\/p>\n\n\n\n

You might like this report:Macy\u2019s Opens Books to Potential Buyers, Shares Surge<\/mark><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares Fall Over 9% as Biotech Giant Transitions Away from Pandemic-Era Vaccine Sales BioNTech (BNTX), the pioneering biotechnology firm behind the widely-used COVID-19 vaccine developed in partnership with Pfizer, announced a significant downturn in revenue and earnings for 2023. The German-based company’s shift towards cancer drug development led to a reported plunge in revenue by […]<\/p>\n","protected":false},"author":1,"featured_media":1410,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","video":"","gallery":"","source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"8","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar-narrow","sidebar":"author","second_sidebar":"single-right","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"0","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"1","number_popup_post":"1","show_author_box":"1","show_post_related":"1","show_inline_post_related":"0"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_social_meta":{"fb_title":"","fb_description":"","fb_image":"","twitter_title":"","twitter_description":"","twitter_image":""},"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"jnews_post_split":{"enable_post_split":"0","post_split":[{"template":"1","tag":"h2","numbering":"asc","mode":"normal","first":"0","enable_toc":"0","toc_type":"normal"}]}},"categories":[308,361],"tags":[],"coauthors":[453],"_links":{"self":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts\/1777"}],"collection":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/comments?post=1777"}],"version-history":[{"count":1,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts\/1777\/revisions"}],"predecessor-version":[{"id":1778,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts\/1777\/revisions\/1778"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/media\/1410"}],"wp:attachment":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/media?parent=1777"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/categories?post=1777"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/tags?post=1777"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/coauthors?post=1777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}