The mRNA vaccine pioneer (Nasdaq:BNTX) announced fourth-quarter revenue of €5.5 billion and €19.0 billion in revenue for 2021.
Sales of the BNT162b2 COVID-19 vaccine, developed jointly with Pfizer, fueled the revenue growth. Net revenues of the vaccine between Pfizer and BioNTech surpassed $59 billion.
In 2020, BioNTech’s revenues were €482.3 million.
“Looking back, 2021 was an exceptional year during which BioNTech had a momentous impact on human health and the global economy with our first approved vaccine based on our mRNA technology,” said Dr. Ugur Sahin, BioNTech CEO, in a news release.
The company plans on using the recent cash infusion to boost R&D spending by roughly 50%. In all, the company plans on spending between €1.4 billion to €1.5 billion on R&D in 2022.
It seeks to advance various programs, including the development of mRNA-based immunotherapies, cell therapies and bi-specific antibodies. The company will also invest in regenerative medicine and autoimmune diseases.
BioNTech also plans to continue working with Pfizer to advance influenza and shingles vaccine candidates.
In addition, BioNTech expects to launch a share repurchase program worth up to $1.5 billion and will propose a special cash dividend of €2.00 per share at its 2022 annual general meeting.
BNTX shares were up 5.57%, hitting $182.00, in early afternoon trading.
Filed Under: Infectious Disease