BioNTech SE (BNTX) has released an update.
BioNTech SE reported a strong third quarter in 2024, with revenues reaching €1.2 billion, largely driven by the successful launch of its variant-adapted COVID-19 vaccines. The company also made significant advancements in its oncology pipeline, initiating Phase 2 trials for its cancer treatments and maintaining a robust financial position with €17.8 billion in cash and equivalents. Despite expecting full-year revenues at the lower end of its guidance, BioNTech’s strategic focus on late-stage oncology products and disciplined cost management positions it well for future growth.
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