INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of BioNTech SE (BNTX) on Behalf of Investors

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of BioNTech SE (“BioNTech” or the “Company”) (NASDAQ: BNTX) investors concerning the Company’s possible violations of federal securities laws.

On August 8, 2022, BioNTech released its second quarter 2022 financial results, missing consensus estimates, which the Company attributed to the “dynamic” development of the pandemic, which the Company claimed caused a “re-phasing of orders” and led to fluctuations in quarterly revenues. On this news, BioNTech’s stock price fell $13.81, or 7.5%, to close at $169.30 per share on August 8, 2022, thereby injuring investors.

Then, on March 27, 2023, BioNTech released its fourth quarter and full year 2022 financial results, forecasting approximately €5 billion in COVID-19 vaccine revenues for 2023, significantly below estimates of over €8 billion. On this news, BioNTech’s stock price fell $4.60, or 3.6%, to close at $123.60 per share on March 27, 2023.

Then, on October 13, 2023, after the market had closed, Pfizer announced that, “due to lower-than-expected utilization for [its] COVID products,” the Company had recorded a non-cash charge of $5.5 billion related to inventory write-offs and other charges. The following trading day, October 16, 2023, BioNTech disclosed that it, too, would likely recognize up to €0.9 billion in inventory write-offs in the third quarter of 2023, and that “[a]ny such write-offs will reduce the revenues the Company would report for 2023.” On this news, BioNTech’s stock price fell $6.61, or 6.4%, to close at $96.97 per share on October 16, 2023.

Then, on November 16, 2023, BioNTech released its third quarter 2023 financial results, confirming that “[i]nventory write-downs by BioNTech’s collaboration partner Pfizer . . . [in connection with Comirnaty] reduced BioNTech’s revenues by €507.9 million and €615.4 million for the three and nine months ended September 30, 2023, respectively.”

If you purchased BioNTech securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at [phone], toll-free at [phone], or by email to [e-mail], or visit our website at www.howardsmithlaw.com.

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