German Covid vaccine developer BioNTech (BNTX) lagged second-quarter expectations and issued light 2022 guidance on Monday, leading BNTX stock to dive.
During the June quarter, BioNTech earned $6.56 per share on $3.25 billion in sales, according to FactSet. Both measures declined markedly year over year and came in light.
The company retained its outlook for 13 billion to 17 billion euros in full-year sales — roughly $13.3 billion to $17.3 billion in sales based on today’s exchange rates. But the midpoint of BioNTech’s outlook missed forecasts.
In morning trades on today’s stock market, BNTX stock crumbled 9.9% near 165.
More to follow.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
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