BioNTech SE – ADR (NASDAQ: BNTX) stock rose over 3.3% in the pre-market session of March 31st, 2021 (Source: Google finance) after the company reported fourth quarter net profit of 366.9 million euros, compared to a net loss of 58.2 million euros, prior year. Cash and cash equivalents as of December 31, 2020 were 1.2 billion euros. For the fourth quarter, the company has reported €345.4 million compared to €28.0 million for the quarter December 31, 2019. Cost of sales came to be €41.0 million for the three months ended December 31, 2020, compared to €4.4 million for the three months ended December 31, 2019.
For fiscal 2021, the company expects R&D expenses to be in the range of €750 million – €850 million and Capital expenditures to be in the range of €175 million – €225 million.
More than 200 million doses of BNT162b2 COVID-19 vaccine were supplied as of March 23, 2021. BioNTech and Pfizer have signed orders of 1.4 billion doses for delivery in 2021. Meanwhile, the company and Pfizer plans to deliver an additional 5 million doses of their COVID-19 vaccine to Canada in June. The accelerated deliveries come after the government restricted the use of AstraZeneca’s vaccine shot for people aged under 55 following reports of 31 cases of a rare brain blood disorder in Europe. Under the new plans, Canada will receive 1 million doses per week until the end of May and 2 million per week through the end of June, taking the total to 44 million shots.
Moreover, BNTX and Pfizer expect to increase BNT162b2 manufacturing capacity to up to 2.5 billion doses by the end of 2021. The increase will be led by the optimization of production processes, the recent initiation of production at BioNTech’s Marburg, Germany facility, regulatory approval for six dose vials, and the expansion of our manufacturing and supplier network. BNTX had acquired a GMP manufacturing facility in Marburg, Germany, to accelerate BNT162b2 manufacturing scale-up for commercial supply in 2021.
Additionally, BNTX is accelerating the development of its broad oncology pipeline with 13 product candidates in 14 ongoing trials. In 2021, the company expects at least four data updates from the oncology pipeline with up to three programs expected to move into randomized Phase 2 trials and six preclinical programs moving into Phase 1 trials. This includes the first-in-human trials started for the lead candidates for both the CARVac (BNT211) and RiboCytokines (BNT151) product candidates.