Why Is BioNTech Stock Falling?

Two years ago, BioNTech SE (BNTX) stocks were some of the best performing on the Nasdaq exchange. After the German immunotherapy and biotechnology company’s initial IPO raised $150 million in October 2019, its partnership with Pfizer to develop a COVID-19 vaccine increased its share prices. Since the latter half of 2022, BioNTech stock prices have been falling.

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1. Market Sentiment and Vaccine Rollout Progress

As COVID-19 became less of a public health concern, the demand for vaccines in the market also reduced. Fewer people opted for a booster dose after the initial rush to procure two doses, and consequently, BNTX shareholders saw their shares' value decrease.

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2. Earnings Reports and Financial Performance

BioNTech’s earnings have slowed down since they peaked in August 2021. According to the company’s own estimates, revenue from its COVID-19 vaccine will amount to $5.4 billion this year, which is a sharp drop from $18 billion in 2022.

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3. Competition and Vaccine Variants

Many other pharma giants launched COVID-19 vaccines, taking away a slice of BioNTech’s business. While the company launched vaccines for newer strains of COVID-19 (like omicron), last year, even its partner Pfizer expects a drop in vaccine demand through 2023.

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4. Market Volatility and Global Events

BioNTech is already using its vaccine research to develop newer products, like cancer drugs. This is because the global COVID-19 vaccine market is highly unpredictable, although demand can suddenly increase if there is a new outbreak.

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