BioNTech Stock Plummets on Disappointing Covid Vaccine Sales Forecast.
TL;DR Summary
BioNTech expects $5.4 billion in sales of its Covid vaccine this year, missing expectations and leading to a 3.2% drop in BNTX stock. The German biotech company predicted about 5 billion euros in revenue from its Pfizer-partnered Covid shot, while analysts projected 7.45 billion euros. The drop in sales is not unexpected as Pfizer's guidance suggests a 31% drop in sales this year as its Covid products enter the commercial market. BioNTech's strong Q4 report was attributed to the updated omicron-focused Covid booster.
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