BioNTech experienced a decline in its topline performance during Q2, though it recorded growth during the first half of 2022.
According to its latest earnings report, BioNTech’s quarterly total revenue, net profit and diluted earnings per share all fell versus the year-ago period. The company attributed this in part to the dynamic nature of the ongoing pandemic, which leads to fluctuations in revenue due to re-phasing of orders.
Still, for the first six months of 2022, BioNTech’s total revenues increased by more than €2 billion while its EPS increased from €15.14 to €20.69. Despite the financial dropoff during the quarter, BioNTech reiterated its outlook for 2022, including COVID-19 vaccine revenue between €13 billion to €17 billion.
“In the first half of 2022, we achieved important milestones as we have further strengthened our COVID-19 vaccine leadership and have expanded our broad pipeline and accelerated its maturation. Our COVID-19 product pipeline includes variant-adapted and next-generation vaccine candidates, aimed at prolonged and broad protection,” BioNTech CEO and co-founder Ugur Sahin, M.D. said in a statement.
BioNTech’s COVID-19 vaccine for young kids received an emergency use authorization from the Food and Drug Administration in June. Also during the second quarter, the company started construction on an MRNA vaccine manufacturing facility in Africa.
Looking ahead, BioNTech and Pfizer are continuing to develop an Omicron-specific vaccine that, pending regulatory approval, should be available by October.