BioNTech is plowing its war chest of money from Covid vaccines into a pipeline of experimental medicines that are targeting other infectious diseases and tough-to-treat cancers. Investors are looking for signs about how soon the company will bring other products to market, as revenue from the Covid vaccines fell 80% in the first quarter.
BioNTech SE reported better-than-expected earnings from Covid-19 vaccines as the German company looks to develop products for fighting other infectious diseases and cancer.
First-quarter sales of €1.28 billion (US$1.4 billion) exceeded the €1.1 billion average analyst estimate. Earnings per share reached €2.05, according to a statement Monday. Analysts expected 69 cents.
