Today, BioNTech $BNTX reported quarterly results, which currently…

· Aug 7

Today, BioNTech $BNTX reported quarterly results, which currently focuses on, for example, the development and research of drugs aimed at treating cancer and infectious diseases. Q2 2023 earnings were in the red, with the company reporting a loss of -190.4 million, compared to a profit of 1.7 billion in Q2 2022. The company has invested heavily in R&D this year, so hopefully it will do well :)

Revenue for Q2 2023 was €167.7 million, down from €3.2 billion in Q2 2022, and also missing the estimate of €607.8 million.

Bill Combs @billcombs Aug 9

As has been written here, the drop in sales is really big, but it's probably really just because of the covid.

Daniela Duong @danieladuong Aug 9

I think so :)

Barrett Gardener @justbarrett Aug 7

Wow, that's a pretty massive drop in sales...

Daniela Duong @danieladuong Aug 7

It does, maybe they can get back up with the new healing. If it wasn't for covid, they wouldn't have gotten to those 2021 and 2022 sales.

Willard Spencer @willardspencer Aug 7

I also think they shot up the covid a lot but now it's dead again...

Daniela Duong @danieladuong Aug 7

The demand for covid vaccines just isn't what it used to be.

Steve James @stevejames Aug 7

Crazy, is there also a hit of a drop in sales from covid products or is the problem elsewhere?

Daniela Duong @danieladuong Aug 7

That's right, covid vaccine sales are down from last year

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