BioNTech Warns On FY25 Revenues After Weak Q4; Stock Dips

BioNTech

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(RTTNews) - Shares of BioNTech SE were losing around 5 percent in German trading as well as around 3 percent in the pre-market activity on the Nasdaq, after the German drugmaker on Monday issued weak revenue outlook for fiscal 2025 after reporting lower fourth-quarter earnings and revenues.

According to the firm, the decrease in revenues was primarily driven by lower sales of its COVID-19 vaccines due to reduced market demand.

Ugur Sahin, CEO and Co-Founder of BioNTech, said, "In 2024, we made significant progress towards our vision through important oncology pipeline advancements, including the initiation of global Phase 3 clinical trials for our anti-PD-L1/VEGF-A bispecific antibody candidate BNT327 and key data updates from our mRNA cancer immunotherapy programs. We expect 2025 to be a data-rich year with multiple important updates from our priority programs, which we believe have disruptive potential and could improve the standard of care, if successfully developed and approved."

For fiscal 2025, the company expects total revenues between 1.70 billion euros and 2.20 billion euros, compared to 2.75 billion euros recorded in fiscal 2024.

BioNTech expects its revenue phasing similar to 2024, primarily concentrated in the last three to four months, driving the full year revenue figure.

The guidance assumes, among other things, relatively stable vaccination rates, pricing levels and market share compared to 2024; estimated inventory write-downs and other charges by BioNTechs collaboration partner Pfizer that negatively influence BioNTechs revenues; and anticipated revenues from a pandemic preparedness contract with the German government.

The company further said that multiple data readouts are expected in 2025 and 2026, aimed at providing clinical proof of BioNTech's pipeline strategy and advancing the company towards becoming a diversified multi-product oncology portfolio company by 2030.

In its fourth quarter, the company's net earnings totaled 259.5 million euros or 1.08 euros per share, compared with 457.9 million euros or 1.88 euros per share last year.

Operating profit declined to 148.6 million euros from 526.2 million euros a year ago.

Research and development or R&D expenses grew to 611.8 million euros from last year's 577.8 million euros. However, sales, general and administrative expenses, in total, dropped to 132.1 million euros from 142.3 million euros for the comparative prior year period.

BioNTech's revenue for the period fell 19.5% to 1.190 billion euros from 1.479 billion euros last year.

AAlong with lower sales of its COVID-19 vaccines due to reduced market demand, the weakness in revenues also reflected write-downs by BioNTechs collaboration partner Pfizer Inc., which significantly reduced the Company's gross profit share.

In pre-market activity on the Nasdaq, BioNTech shares were trading at $105.02, down 3.5 percent.

In Germany, the shares were trading at 97.15 euros, down 4.7 percent.

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