BioNTech SE

Ticker: BNTX

Class Period Start: 03/30/2022

Class Period End: 10/13/2023

Registration Deadline: 03/12/2024

A securities class action has been filed in the USDC —C.D.CA. against BioNTech SE (BNTX) (“BioNTech” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired BioNTech securities between March 30, 2022 and October 13, 2023, both dates inclusive (the “Class Period”).

 

BioNTech is a biotechnology company that develops and commercializes immunotherapies for cancer and other infectious diseases. The Company 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.

 

The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:

(1)  BioNTech overstated demand for Comirnaty and/or its commercial prospects;

(2)  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;

(3)  accordingly, BioNTech was at an increased risk of recording significant inventory write-offs and other charges related to Comirnaty; and

(4) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times, thereby harming investors.

 

After the announcement in the press release on August 8, 2022, the Company’s American Depositary Share (“ADS”) price fell $13.81 per ADS, or 7.54%, to close at $169.30 on the same day.

 

If you purchased BioNTech securities during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

 

About Lowey Dannenberg

Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.

If you suffered a loss on your investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.

An attorney will contact you at no cost to provide you information about joining the action and answer your questions. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.

Purchases

Sales

Please Note

Neither the submission to nor the receipt of information by Lowey Dannenberg or one of its attorneys through this website constitutes an agreement by our firm to represent the individual and does not create an attorney-client relationship. Please do not send confidential or sensitive information through this website. This information should be communicated through a direct contact with an individual at the firm.

* Indicates a required field.

Signed pursuant to California Civil Code Section 1633.1, et seq. - and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.