BioNTech SE shares (NASDAQ: BNTX) opened 8% up on Wednesday after the pharmaceutical company handily beat Street expectations for Q4 earnings and revenue.
Notable figures in BioNTech Q4 earnings report
- Net profit printed at €3.17 billion ($3.51 billion), compared to last year’s €3.66 million.
- Operating income of €4.70 billion noted a significant YoY growth from €244 million.
- Revenue soared to €5.53 billion versus the year-ago figure of only €345 million.
- Announced plans of repurchasing $1.50 billion worth of its stock over the next two years.
- BioNTech will propose €2.0 a share of special cash dividend at its annual general meeting.
Comirnaty sales outlook for 2022
According to the earnings press release, in 2021, BioNTech delivered 2.6 billion doses of Comirnaty – its COVID shot that it developed in collaboration with Pfizer.
New vaccine orders now stand at 2.4 billion doses for 2022. The German firm expects up to €17 billion in revenue from Comirnaty this year. This, however, compares to an even higher €17.59 billion that analysts anticipate.
Nonetheless, the boost from COVID vaccine sales will see BioNTech spend roughly €1.50 billion on R&D in 2022; about a 50% increase from what was indicated previously. Other than COVID-19, R&D will also focus on oncology and infectious diseases.
A day earlier, CDC recommended fourth dose of Comirnaty for people aged fifty and above.
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Source: https://invezz.com/news/2022/03/30/biontech-reports-unbelievable-yoy-growth-for-its-fiscal-q4/