BioNTech, the German biotechnology company known for its COVID-19 vaccine developed in partnership with Pfizer, reported a sharp decline in revenue for the first quarter of 2024, totaling €187.6 million. The company also experienced a net loss of €315.1 million and a GAAP loss per share of €1.31. Despite these figures, BioNTech maintains a strong financial position with €16.9 billion in cash, cash equivalents, and security investments. The company anticipates that 90% of its 2024 revenues will be realized towards the end of the year, attributing the revenue drop primarily to reduced sales of its COVID-19 vaccine.