- Biontech reports quarterly figures
After posting a triple-digit million loss in the first quarter of 2024, Mainz-based vaccine manufacturer Biontech, renowned for its role in the COVID-19 pandemic, will present its second quarter figures. Revenue from the COVID-19 vaccine has declined, while the company works on potential approvals in other areas. Biontech aims to launch its first cancer drug in 2026.
For the first quarter of the current fiscal year, the company reported a net loss of 315.1 million euros, compared to a profit of 502.2 million euros in the same period last year. CEO and co-founder Ugur Sahin stated in May that Biontech should become a commercially operating company focused on drugs for cancer and infectious diseases. In the area of infectious diseases, studies are underway for vaccine candidates against malaria, tuberculosis, and Mpox, formerly known as monkeypox.
Despite the decline in revenue from the Coronavirus vaccine, Biontech continues to pursue potential approvals in other areas, such as infectious diseases like malaria and tuberculosis. The ongoing impact of the Coronavirus pandemic has significantly affected Biontech's financials, leading to a triple-digit million loss in the first quarter of 2024.
