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BioNTech SE Posts Wider Loss In Q2 - Quick Facts

BioNTech SE (BNTX) reported a second quarter net loss of 88.3 million euros, compared to a loss of 50.1 million euros, prior year. Loss per share was 0.38 euros compared to a loss of 0.24 euros.

Second quarter total revenue, consisting primarily of revenue from collaboration agreements, was 41.8 million euros, compared to 25.8 million euros, previous year. Research and development expenses were 95.2 million euros, compared to 53.4 million euros.

BioNTech anticipates that existing cash and cash equivalents, the net proceeds from the recent underwritten offering and the expected net proceeds from the private investment will enable it to fund operating expenses and capital requirements through at least the next 24 months. Cash and cash equivalents as of June 30, 2020, were 573.0 million euros.

"We made significant progress in the second quarter toward our goal of advancing our oncology programs and toward bringing a COVID-19 vaccine to market as quickly as possible," said Ugur Sahin, BioNTech's CEO.

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