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BioNTech Q3 Loss Widens

German biotech firm BioNTech SE (BNTX) reported that its third-quarter net loss attributable to equity holders of the parent widened to 210.03 million euros or 0.88 euros per share from last year's 30.10 million euros or 0.14 euros per share.

Total revenue, consisting primarily of revenue from collaboration agreements, surged to 67.5 million euros from 28.7 million euros in the previous year.

BioNTech expects net cash used in operating activities and for purchases of property and equipment to be within the previously guided range of 450 million euros and 600 million euros for the full year 2020.

On Monday, Pfizer Inc. (PFE) and BioNTech said that their coronavirus vaccine candidate, BNT162b2, was found to be more than 90 percent effective in preventing COVID-19 among patients without prior evidence of infection.

The companies plan to submit for emergency use authorization to the FDA after accumulating two months of safety data, which is expected to be available by the third week of November.

The companies expect to produce globally up to 50 million vaccine doses in 2020 and up to 1.3 billion doses in 2021.

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