Trending: BioNTech Reports Surprise Profit, Cuts Outlook

13:51 EST -- Covid vaccine maker BioNTech is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. BioNTech reported a surprise third-quarter profit and better-than-expected sales, leading its stock to surge. But BioNTech cut its 2023 guidance, expecting 4 billion euros in sales of the Pfizer-partnered Covid shot, about $4.29 billion, down from previous guidance for EUR5 billion. BioNTech noted fewer people are getting primary vaccinations and population-wide boosting is much lower. BioNTech is now focusing on areas outside its Covid vaccine. "Our strategy focuses on assembling a diverse toolbox of complementary technologies to deliver novel therapies, aiming to improve the standard-of-care for cancer patients," Chief Executive Ugur Sahin said. Dow Jones & Co. owns Factiva. (matthew.walker@dowjones.com)

(END) Dow Jones Newswires

November 06, 2023 14:07 ET (19:07 GMT)

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