Why BioNTech Stock Is Getting Crushed Today
Last quarter's reported loss isn't the problem. Although it was slightly bigger than expected, the analyst community knew the company would likely remain in the red due to a revenue headwind for the quarter in question.
Rather, the chief problem for BioNTech SE (NASDAQ: BNTX) shareholders today is disappointing guidance for the fiscal year now underway, and news that this biopharma outfit's co-founders are planning to turn their attention on a new biopharma company to be formed by the end of this year. Investors understandably panicked, sending BNTX shares 20.9% lower as of 11:47 a.m. ET Tuesday.
For the fiscal fourth quarter ending in December, Germany-based BioNTech turned €907.4 million in revenue into an adjusted per-share loss of €0.33. Both were down from year-ago comparisons, when demand for its COVID-19 vaccine was stronger. And, while sales topped analysts' estimates, earnings fell short of the expected loss of only €0.21 per share.
Source Fool.com
