BERLIN (dpa-AFX) - German drugmaker BioNTech SE (BNTX) reported Monday wider net loss in its first quarter with weak revenues. Further, the company confirmed its fiscal 2025 outlook.
In the first quarter, net loss was 415.8 million euros, compared to a net loss of 315.1 million euros in the prior year period. Loss per share was 1.73 euros, compared to prior year's loss per share of 1.31 euros.
Revenues dropped to 182.8 million euros from 187.6 million euros a year ago. Revenues during the latest quarter were mainly driven by revenues derived from BioNTech's COVID-19 vaccine collaboration.
The company said the revenues for the first quarter reflected the seasonal demand for COVID-19 vaccines and are in line with expectations.
Looking ahead, for fiscal 2025, BioNTech continues to expect its revenues to be in the range of 1.70 billion euros to 2.20 billion euros, and revenue phasing similar to 2024, primarily concentrated in the last three to four months, driving the full year revenue figure.
The company said the revenue guidance assumes relatively stable vaccination rates, pricing levels and market share compared to 2024; among others.
In pre-market activity on the Nasdaq, BioNTech shares were losing around 0.4 percent to trade at $104.50.
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