BioNTech announces Q2 losses

German vaccine manufacturer BioNTech expects to launch its adapted Covid-19 vaccine in September, the company announced on Monday as it presented its financial figures for the second quarter, reported dpa.

Subject to approval, delivery of the vaccine adapted to the coronavirus variant XBB.1.5, a sub-variant of Omicron, should begin next month.

The significantly reduced business in Covid-19 vaccines is having a strong impact on the balance sheet of the Mainz-based company. This is affecting its US partner Pfizer too.

BioNTech's sales of Covid-19 vaccines fell to €1.4 billion in the first half of the year from €9.57 billion in the same period last year.

Profits slumped from €5.37 billion to €311.8 million.

For the second quarter, which ended at the end of June, the bottom line was a loss of €190.4 million, compared to a profit of €1.67 billion in the same quarter of the previous year.

Quarterly revenues were €167.7 million after €3.2 billion in the same period last year.

BioNTech maintained its forecast for the full year and continues to expect Covid-19 vaccine sales of around €5 billion.

The company pointed out that several payments had been received after the end of the second quarter, including a compensation payment from Pfizer of around €1.06 billion for BioNTech's share of gross profit for the first quarter of 2023.