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BioNTech ADRs Fall 10% On Lower 2Q Revenue

By Kathryn Hardison

 

American depositary receipts of BioNTech SE fell 10% Monday to $165.21 after the company said its second-quarter earnings and revenue fell.

The German biotechnology company, which has developed one of the most widely sold Covid-19 vaccines with Pfizer Inc., reported a profit of 1.67 billion euros ($1.70 billion), down from EUR2.79 billion during the same period a year earlier.

Revenue fell to EUR3.20 billion from EUR5.31 billion a year earlier.

The company said its variant-adapted Covid-19 vaccine should help increase demand later this year.

Write to Kathryn Hardison at kathryn.hardison@wsj.com

(END) Dow Jones Newswires

August 08, 2022 11:53 ET (15:53 GMT)

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