BioNTech Turns To Profit In Q1; Stock Surges - Quick Facts

BioNTech SE (BNTX) reported that its first-quarter net profit was 1.13 billion euros or 4.39 euros per share compared to a loss of 53.4 million euros or 0.24 euros per share in the previous year.

In Monday pre-market trading, BNTX was trading at $198.50 up $14.79 or 8.05 percent.

Total revenues for the quarter surged to 2.05 billion euros from last year's 27.7 million euros, mainly due to rapidly increasing the supply of COVID-19 vaccine worldwide.

BioNTech's commercial revenues include an estimated amount of 1.75 billion euros, comprising BioNTech's share of gross profit from COVID-19 vaccine sales in Pfizer's territories, which represents a net figure, as well as sales milestones.

BioNTech and Pfizer have shipped about 450 million doses of COVID-19 vaccine to 91 countries and territories, as of May 6, 2021.

BioNTech said that to date, the companies have signed orders of about 1.8 billion doses for delivery in 2021, and they have also signed the first contracts for 2022 and beyond. Further discussions for additional dose commitments are ongoing for 2021 and beyond.

The estimated revenue from COVID-19 vaccine deliveries, based on the currently signed supply contracts of about 1.8 billion doses, is 12.4 billion euros.

BioNTech noted that there is no evidence that an adaptation of its COVID-19 vaccine against key identified emerging variants is necessary. However, the company has developed a comprehensive strategy to address these variants should the need arise in the future.

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