BioNTech expects 2024 revenues of about $3.3 bln
Jan 9 (Reuters) - COVID-19 vaccine maker BioNTech on Tuesday forecast total company revenues of about 3 billion euros ($3.28 billion)for 2024, as it works to scale up its oncology business with product launches in the coming years.
The company, which developed the Western world's most widely used COVID-19 shot with U.S. partner Pfizer, with which it shares costs, said it ended 2023 with about 17.5 billion euros in cash, cash equivalents and security investments according to preliminary, unaudited figures.
BioNTech is targeting a strong financial position and significant interest income generation in the current year, it said in a statement.
"Currently, late-stage trials are ongoing in multiple oncology indications, and we plan to have ten or more potentially registrational trials in our pipeline by the end of 2024," BioNTech co-founder and chief executive Ugur Sahin said.
The company aims to scale the business for commercial readiness in oncology in multiple countries by the end of 2025 and expects its first oncology launches from 2026 onwards.
BioNTech said it would provide detailed full-year 2024 guidance alongside its 2023 financial results on March 20.
($1 = 0.9141 euros) (Reporting by Ludwig Burger, Writing by Linda Pasquini, Editing by Rachel More)
