BioNTech 1Q Revenues Tumble

BioNTech
1Q Revenue: €1.3 billion (revenue was €6.4 billion 1Q22)
1Q Earnings: €502.2 million (earnings were €3.7 billion 1Q22)
Comments: Results in the quarter impacted by lower commercial revenues from the supply and sales of the company’s COVID-19 vaccines worldwide. For the COVID-19 vaccine franchise, the company plans to focus on vaccine adaptation for the fall season and advancing next generation vaccine candidates and combinations.
 
BioNTech and partner OncoC4 plan to start a Phase 3 clinical trial evaluating anti-CTLA-4 antibody BNT316 (ONC-392) as monotherapy in NSCLC patients who progress after PD-1/PD-L1 treatment. The company added new class of precision therapeutics to clinical-stage oncology portfolio, with next-generation Antibody-Drug Conjugate (ADC) candidates and broadened clinical-stage infectious disease vaccine pipeline with the start of a First-in-Human clinical trial for the first mRNA-based Tuberculosis vaccine candidates. Alos, in February, BioNTech and Pfizer initiated a multicenter, randomized, controlled, dose-selection Phase 1/2 clinical trial of BNT167, the companies’ mRNA vaccine candidate against shingles. 
 
R&D expenses were €334.0 million in the quarter, compared to €285.8 million for the comparative prior year period. The change was mainly due to higher expenses incurred from progressing clinical studies for pipeline candidates.