Investors who lost money with shares of BioNTech SE (NASDAQ: BNTX) should contact the Shareholders Foundation in connection with Lawsuit

An investor, who purchased shares of BioNTech SE (NASDAQ: BNTX), filed a lawsuit over alleged violations of Federal Securities Laws by BioNTech SE in connection with certain allegedly false and misleading statements.

Investors who purchased shares of BioNTech SE (NASDAQ: BNTX) have certain options and for certain investors are short and strict deadlines running. Deadline: March 12, 2024. NASDAQ: BNTX investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Germany based BioNTech SE, a biotechnology company, develops and commercializes immunotherapies for cancer and other infectious diseases. BioNTech SE has developed and continues to develop, among other products and product candidates, Comirnaty, a COVID-19 vaccine, in collaboration with Pfizer Inc. ("Pfizer"). As part of BioNTech's collaboration agreement with Pfizer, the two companies share gross profits from COVID-19 vaccine sales in their respective territories. In addition, Pfizer's inventory write-offs for COVID-19 products reduce BioNTech's gross profit share, thereby reducing BioNTech's vaccine revenues.

On Monday, October 16, 2023, during pre-market hours, announced that, as a result of Pfizer's inventory write-offs and other charges related to Comirnaty, BioNTech, too, would likely recognize up to €0.9 billion in inventory write-offs and other charges related to Comirnaty in the third quarter of 2023, which represents BioNTech's half under the gross profit-sharing agreement with Pfizer. BioNTech also disclosed that "[a]ny such write-offs will reduce the revenues the Company would report for 2023." According to BioNTech SE, Pfizer informed the Company "that the majority of the write-offs relate to raw materials, mainly formulation-related lipids, purchased during the pandemic, as well as COVID-19 vaccine doses adapted to other, non-XBB.1.5 variants produced at risk."

Shares of BioNTech SE (NASDAQ: BNTX) declined from $147.66 per share in February 2023 to as low as $88.66 per share on November 02, 2023.

The plaintiff claims that between March 30, 2022 and October 13, 2023, the Defendants failed to disclose that BioNTech overstated demand for Comirnaty and/or its commercial prospects, that the Company and/or Pfizer had accumulated excess inventory of raw materials for Comirnaty, as well as COVID-19 vaccine doses adapted to other, non-XBB.1.5 variants that were produced at risk, and that accordingly, BioNTech SE was at an increased risk of recording significant inventory write-offs and other charges related to Comirnaty.

Those who purchased shares of BioNTech SE (NASDAQ: BNTX) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.