Kessler Topaz Meltzer & Check, LLP Reminds Investors of Securities Fraud Class Action Against BioNTech SE (BNTX) and Urges BNTX Investors with Substantial Losses to Contact the Firm - Seite 2

On August 8, 2022, during pre-market hours, BioNTech issued a press release announcing its second quarter 2022 financial results. Among other things, BioNTech’s reported earnings-per-share and revenue both missed consenus estimates. BioNTech attributed the result, in part, to the "dynamic" development of the pandemic, which "caus[ed] a re-phasing of orders and . . . le[d] to fluctuations in quarterly revenues." According to BioNTech, "[t]his revenue fluctuation caused by the re-phasing of orders is expected to remain over the rest of the financial year with an uptake in demand in key markets in the fourth quarter of 2022 related to the Omicron-adapted bivalent vaccine, subject to regulatory approval." Following this news, BioNTech's American Depositary Share ("ADS") price fell $13.81 per ADS, or 7.54%, to close at $169.30 per ADS on August 8, 2022.

Then on March 27, 2023, during pre-market hours, BioNTech issued a press release announcing its fourth quarter and full year 2022 financial results. In the results, BioNTech forecasted approximately €5 billion in COVID-19 vaccine revenues for the 2023 financial year, significantly below market estimates of over €8 billion. Following this news, BioNTech's ADS price fell $4.60 per ADS, or 3.59%, to close at $123.60 per ADS on March 27, 2023.

On Friday, October 13, 2023, during after-market hours, Pfizer issued a press release announcing, among other things, that due to lower-than-expected utilization for its COVID products, Pfizer was recording a non-cash charge of $5.5 billion to Cost of Goods Sold in the third quarter of 2023 which consisted of inventory write-offs and other charges relating to Comirnaty. Pfizer also reduced its full-year 2023 revenue expectations for Comirnaty by approximately $2.0 billion.

On Monday, October 16, 2023, during pre-market hours, BioNTech issued a press release disclosing that, as a result of Pfizer's inventory write-offs and other charges related to Comirnaty, BioNTech, too, would likely recognize up to €0.9 billion in inventory write-offs and other charges related to Comirnaty in the third quarter of 2023. The company also reported that "[a]ny such write-offs will reduce the revenues the Company would report for 2023." According to BioNTech, Pfizer indicated "that the majority of the write-offs relate to raw materials, mainly formulation-related lipids, purchased during the pandemic, as well as COVID-19 vaccine doses adapted to other, non-XBB.1.5 variants produced at risk.” Following this news, BioNTech's ADS price fell $6.61 per ADS, or 6.38%, to close at $96.97 per ADS on October 16, 2023.