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5/10, 1:21 PM (Source: TeleTrader)
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BioNTech revenue jumps to €2 billion, sending stock up 8%

BioNTech SE announced on Monday that its first-quarter revenue soared to €2 billion, compared to €27.7 million in the first three months of 2020. The figure exceeded forecasts of around €1.7 billion. Diluted earnings per share (EPS) increased to €4.39 from a loss of €0.24 in Q1 2020. Profit rose to €1.6 billion from a loss of €53.4 million in the same period last year. The company stated it has so far delivered more than 450 million doses of its coronavirus vaccine together with Pfizer.

"BioNTech has continued to execute the delivery of our COVID-19 vaccine globally to more than 90 countries and territories. Through our continued innovation, we are expanding access to new populations and geographies, and addressing emerging variants," said BioNTech CEO Ugur Sahin. "We are moving into later stage testing for three of our oncology programs in the near future and plan to launch multiple new products over the next five years. Looking ahead, we will further optimize our technologies and expand our pipeline into additional therapeutic indications, as we meet our ambition to become a global, fully-integrated immunotherapy company."

The company's shares jumped 8.8% in premarket trade following the earnings release.

Breaking the News / DJ