Today, BioNTech $BNTX reported quarterly results, which currently focuses on, for example, the development and research of drugs aimed at treating cancer and infectious diseases. Q2 2023 earnings were in the red, with the company reporting a loss of -190.4 million, compared to a profit of 1.7 billion in Q2 2022. The company has invested heavily in R&D this year, so hopefully it will do well :)
Revenue for Q2 2023 was €167.7 million, down from €3.2 billion in Q2 2022, and also missing the estimate of €607.8 million.
As has been written here, the drop in sales is really big, but it's probably really just because of the covid.
Wow, that's a pretty massive drop in sales...
I also think they shot up the covid a lot but now it's dead again...
Crazy, is there also a hit of a drop in sales from covid products or is the problem elsewhere?