By Kathryn Hardison
American depositary receipts of BioNTech SE fell 10% Monday to $165.21 after the company said its second-quarter earnings and revenue fell.
The German biotechnology company, which has developed one of the most widely sold Covid-19 vaccines with Pfizer Inc., reported a profit of 1.67 billion euros ($1.70 billion), down from EUR2.79 billion during the same period a year earlier.
Revenue fell to EUR3.20 billion from EUR5.31 billion a year earlier.
The company said its variant-adapted Covid-19 vaccine should help increase demand later this year.
Write to Kathryn Hardison at kathryn.hardison@wsj.com
(END) Dow Jones Newswires
08-08-22 1153ET