BioNTech shares are climbing. Profits exceeded expectations.

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Actions of the Covid-19 vaccine manufacturer

BioNTech

took off on Monday morning after the company reported quarterly financial results well above Wall Street expectations.

BioNTech (ticker: BNTX) said in a press release detailing its second quarter results that it and its partner

Pfizer

(PFE) had shipped around a billion doses of their Covid-19 vaccine at the end of July. He said the companies had signed orders for the delivery of more than 2.2 billion doses this year, echoing an update from Pfizer made late last month.

The revenues from these 2.2 billion doses will total 15.9 billion euros, or $ 18.7 billion, he said. BioNTech and

Pfizer

now expect to be able to manufacture up to four billion doses next year.

Profit was $ 12.67 per share for the second quarter, well ahead of the $ 8.87 per share that FactSet data showed as the Wall Street consensus estimate. The company reported revenue of $ 6.2 billion, topping the consensus call of $ 3.8 billion.

“We and our partner Pfizer have passed the 1 billion COVID-19 vaccine dose mark shipped globally,” BioNTech CEO Dr Ugur Sahin said in a statement. “We are proud to have reached this milestone after just six months and to have made a difference for people with our proprietary mRNA technology. “

BioNTech’s U.S. deposit receipts have increased 421% so far this year and 475% in the past 12 months. ADRs were up 9.2% to $ 423.32 by mid-morning.

In response to an analyst question during an earnings call on Monday, Sahin said he expects a booster dose of the original vaccine to be effective at least in the short term.

“We believe the best approach at the moment to deal with the situation is to continue with a booster dose of the existing vaccine,” Sahin said. “It is entirely possible that over the next six to 12 months other variants will emerge that would require adaptation of the vaccine, but that is not the case at this time.

In the second quarter of last year, when the company had no approved products, BioNTech’s sales were $ 49 million. “The increase is mainly due to the rapid increase in the supply of COVID-19 vaccine around the world,” the company said.

In a presentation released early Monday, BioNTech highlighted data that shows the company’s Covid-19 vaccine remains effective against all current variants of Covid-19, including the Delta type. The company also noted that a booster dose of its original vaccine increases levels of neutralizing antibodies in patients, and said data on these studies is being prepared for submission to regulators.

BioNTEch also said it plans to pursue mergers and acquisitions, as well as product licensing and strategic collaborations, to strengthen its cancer drug portfolio.

Write to Josh Nathan-Kazis at [email protected]