Why Shares of BioNTech Slumped Monday
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Shares of vaccine maker BioNTech (NASDAQ: BNTX) were down 2.8% early Monday afternoon after falling as much as 6.4% earlier in the day. The decline came after the biotech company reported fourth-quarter and full-year earnings before the markets opened on Monday. The stock is down more than 16% so far this year.
The company reported that revenue in 2022 slipped 8% to 17.3 billion euros (roughly $18.67 billion). Annual earnings per share (EPS) also dropped a bit, from 39.63 euros ($42.76) to 37.77 euros ($40.77). In the quarter, the company reported EPS of 9.26 euros ($9.99), compared to 12.18 euros ($13.14) in the same period last year.
More importantly, the stock was driven down by the company's guidance, which said it expected revenue from Comirnaty, its COVID-19 vaccine, to fall to 5 billion euros (or $5.4 billion) in 2023.
Source Fool.com
