By Josh Beckerman

BioNTech shares were down 3.4% after the company projected 2024 revenue of about 3 billion euros ($3.28 billion), compared with the average estimate of $4.11 billion from analysts polled by FactSet.

The stock was recently at $108.04 and is down about 29% over the past 52 weeks.

The immunotherapy company expects topline growth in 2025.

BioNTech, widely known for its Covid-19 vaccine, has been expanding in areas including oncology. The company said Tuesday that "late-stage trials are ongoing in multiple oncology indications, and we plan to have ten or more potentially registrational trials in our pipeline by the end of 2024."

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

January 09, 2024 14:42 ET (19:42 GMT)

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