The Clap
BioNTech (NASDAQ: BNTX) reported a net profit of EUR 1.8 billion during Q3 2022, a decrease from EUR 3.2 billion in the same period last year.
The Deets
The company also recorded revenues of EUR 3.5 billion during Q3 2022, almost half of what it recorded in Q3 2021.
The company has begun shipments of Omnicron vaccines in September, with deliveries expected to continue throughout Q4 of this year.
So What
The updated vaccines are expected to bring in around EUR 17 billion. In collaboration with Pfizer, the company has already delivered around 1.6 billion vaccines to developing countries.
Now What
The company has not yet signed an agreement with COVAX, a UN program that ships vaccine shots to poorer countries.
The company’s stock increased by more than 4% following the news.
