Biontech's Revenue Surges with Updated Covid-19 Vaccine

Early approval of new Covid-19 vaccines boosts Biontech's Q3 earnings, despite ongoing investments in cancer treatments.

Biontech reported third-quarter revenues of 1.24 billion euros, marking a significant increase from the previous year's 895 million euros.
The company achieved a net profit of 198.1 million euros in Q3, a turnaround from a loss of 808 million euros in the prior quarter.
Early market release of variant-adapted Covid-19 vaccines in the EU, UK, and US contributed to the revenue growth.
Biontech continues to invest heavily in oncology, with a first cancer drug approval anticipated in 2026.
Despite strong Q3 performance, Biontech projects full-year revenues at the lower end of its 2.5 to 3.1 billion euro forecast.