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BioNTech's (BNTX) Q3 Loss Wider-Than Expected, Revenues Beat
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German biotech BioNTech SE (BNTX - Free Report) is engaged in developing novel therapies for cancer and other serious diseases. The company has been actively engaged in developing a potential vaccine for preventing COVID-19 infection. It is conducting the vaccine program in collaboration with Fosun Pharma in China and globally with Pfizer in regions outside China.
BioNTech along with Pfizer is evaluating their mRNA-based COVID-19 vaccine candidate, BNT162b2 in a phase III study which is being conducted in the United States, Brazil, Argentina and Europe. Both the companies began the rolling submission of BNT162b2 to the European Medicines Agency (EMA) for speeding up the review process.
Notably, BioNTech and Pfizer expect to file the regulatory applications for BNT162b2 in the United States shortly.
This apart, BioNTech’s pipeline boasts several prospective candidates which are in early- to mid-stage studies for addressing various oncological indications.
The company’s surprise record has been mixed so far as its bottom line beat estimates in two of the trailing four quarters and lagged the same on the other two occasions, the average miss being 15.08%. In the last reported quarter, BioNTech delivered a negative earnings surprise of 44.83%.
Currently, BioNTech has a Zacks Rank #4 (Sell). We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: BioNTech reported a loss of $1.04 per share (€0.88 cents per share) in the third quarter of 2020, which was wider than the Zacks Consensus Estimate of a loss of 46 cents.
Revenues: BioNTech generated total revenues of $79.7 million (€67.5 million) during the third quarter beating the Zacks Consensus Estimate of $38 million.
Key Stats: BioNTech entire revenues in the third quarter came under the collaboration agreement with Pfizer and Fosun Pharma related to the development of the COVID-19 vaccine candidate.
Share Price Impact: Shares were up 4.7% in pre-market trading.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
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BioNTech's (BNTX) Q3 Loss Wider-Than Expected, Revenues Beat
German biotech BioNTech SE (BNTX - Free Report) is engaged in developing novel therapies for cancer and other serious diseases. The company has been actively engaged in developing a potential vaccine for preventing COVID-19 infection. It is conducting the vaccine program in collaboration with Fosun Pharma in China and globally with Pfizer in regions outside China.
BioNTech along with Pfizer is evaluating their mRNA-based COVID-19 vaccine candidate, BNT162b2 in a phase III study which is being conducted in the United States, Brazil, Argentina and Europe. Both the companies began the rolling submission of BNT162b2 to the European Medicines Agency (EMA) for speeding up the review process.
Notably, BioNTech and Pfizer expect to file the regulatory applications for BNT162b2 in the United States shortly.
This apart, BioNTech’s pipeline boasts several prospective candidates which are in early- to mid-stage studies for addressing various oncological indications.
The company’s surprise record has been mixed so far as its bottom line beat estimates in two of the trailing four quarters and lagged the same on the other two occasions, the average miss being 15.08%. In the last reported quarter, BioNTech delivered a negative earnings surprise of 44.83%.
Currently, BioNTech has a Zacks Rank #4 (Sell). We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: BioNTech reported a loss of $1.04 per share (€0.88 cents per share) in the third quarter of 2020, which was wider than the Zacks Consensus Estimate of a loss of 46 cents.
Revenues: BioNTech generated total revenues of $79.7 million (€67.5 million) during the third quarter beating the Zacks Consensus Estimate of $38 million.
Key Stats: BioNTech entire revenues in the third quarter came under the collaboration agreement with Pfizer and Fosun Pharma related to the development of the COVID-19 vaccine candidate.
Share Price Impact: Shares were up 4.7% in pre-market trading.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>