Futu News October 16, a German biotech company$BioNTech (BNTX.US)$It fell before the market. As of press release, it is now down 5.29% to $98.10 and has a turnover of $5.734,900.

According to the news, BioNTech said that it is supported by partners$Pfizer (PFE.US)$Due to the impact of lower revenue expectations and impairment, the COVID-19 vaccine COMIRNATY (COMIRNATY), developed by the company in collaboration with Pfizer, will account for about 900 million euros of impairment losses in inventory and other related expenses. This impairment accounts for half of the gross profit sharing agreement between BioNTech and Pfizer, and the company is evaluating the impact of the reduction in holdings on FY2023 results. The company expects to release its financial report for the third quarter of 2023 on November 6.

About BioNTech

BioNTech was founded in 2008 and focuses on the development of molecular immunotherapy and biomarker-based diagnostic methods. The company combines pioneering research with cutting-edge technology to develop pioneering treatments for cancer and beyond.