Biontech Loss Increases – Vaccine Dates in October
High costs for its corona vaccine project have driven up the loss of the Mainz company Biontech.
The net loss in the second quarter was 88.3 million euros after 50.1 million in the same period of the previous year, as the management announced on Tuesday. This was also due to a significant increase in the number of employees and the associated higher expenses. Sales jumped 62 percent to just under 42 million euros. Biontech benefited from payments from its cooperation partners Pfizer and Fosun, with whom the company is working on the development of its corona vaccine.
At the end of July, Biontech started the decisive global efficacy study with its vaccine candidate, which is expected to include up to 30,000 participants. The biotech company confirmed that it expected the first clinical results as early as October, which could lead to an application for approval. It has already signed initial supply agreements with the US, Japan, Canada and the UK for more than 250 million vaccine doses, which, if approved, could be delivered in 2020 and 2021.
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