BioNTech SE - ADR BNTX shares are trading lower by 5.6% to $93.10 Wednesday afternoon. Shares of several COVID vaccine stocks are trading lower after Pfizer Inc. PFE provided FY24 guidance.
BioNTech's revenue relies on its collaboration with Pfizer for the COVID-19 vaccine. Any news or projections from Pfizer that suggest potential revenue challenges or lower-than-expected earnings might create concerns about BioNTech's financial performance.
Investors might fear a proportional impact on BioNTech's revenue share or royalties from vaccine sales.
What Happened With Pfizer?
Pfizer revealed its full-year 2024 expectations, factoring in the Seagen Inc transaction, after obtaining regulatory nods to finalize the acquisition about nine months post its announcement.
The projected revenue for FY24 stands between $58.5 billion to $61.5 billion, which accounts for the Seagen acquisition, though falling below the consensus estimate of $63.17 billion...Read More
According to data from Benzinga Pro, BNTX has a 52-week high of $188.98 and a 52-week low of $88.00.
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