BioNTech Earnings: Guidance Cut but Late-Stage Pipeline Stays on Track
BioNTech reported second-quarter revenue of EUR 106 million, or a 59% year-on-year decline. Management lowered its guidance for full-year revenue to EUR 1.6 billion-EUR 1.9 billion, or 19% lower than previous guidance at the midpoint, citing lower covid vaccine demand and delayed milestone payments.