Biopharmaceutical New Technologies, also known as BioNTech SE (BNTX), an immunotherapy company, has reported a net loss of 315.1 million euros, which translates to 1.31 euros per share for the first quarter. This is in stark contrast to the net profit of 502.2 million euros, or 2.05 euros per share, that was recorded during the same period in the previous year.
The total revenue for the quarter drastically reduced to 187.6 million euros from 1.28 billion euros recorded in the same quarter last year. This significant drop is mainly attributed to the sharply decreased demand for COVID-19 vaccines.
However, the company still projects group revenues within the range of 2.5 billion to 3.1 billion euros, looking forward to fiscal 2024.
