BioNTech’s stock jumps 4.3% premarket after earnings fall but top estimates

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BioNTEch SE’s stock rose 4.3% in premarket trade Monday, after the German biotech posted far stronger-than-expected first-quarter earnings, even as profit...

BioNTEch SE’s stock BNTX rose 4.3% in premarket trade Monday, after the German biotech posted far stronger-than-expected first-quarter earnings, even as profit and revenue tumbled on lower demand for its COVID vaccine co-developed with Pfizer Inc. PFE. Mainz-based BioNTEch said it had net profit of 502.2 million euros, or 2.05 a share, for the quarter, down from EUR3.699 billion, or EUR14.24 a share, in the year-earlier period. Revenue fell to EUR1.277 billion from EUR6.375 billion.

3% in premarket trade Monday, after the German biotech posted far stronger-than-expected first-quarter earnings, even as profit and revenue tumbled on lower demand for its COVID vaccine co-developed with Pfizer Inc. PFE . Mainz-based BioNTEch said it had net profit of 502.2 million euros, or 2.05 a share, for the quarter, down from EUR3.699 billion, or EUR14.24 a share, in the year-earlier period. Revenue fell to EUR1.277 billion from EUR6.375 billion.

 

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