Yahoo Finance's Julie Hyman breaks down leading business headlines today regarding M&A activity and leadership changes.
BioNTech (NASDAQ: BNTX), the out-of-nowhere German biotech that shot to prominence with the coronavirus vaccine it developed with Pfizer (NYSE: PFE), wasn't having a great Monday. For its second quarter, BioNTech's revenue was just under 3.2 billion euros, or $3.3 billion, while its net profit stood at 1.67 billion euros. In that frame, BioNTech's top line was a bit over 5.3 billion euros, and it netted almost 2.79 billion euros in profit.
The blood-disorder specialist sells itself in a deal with an enterprise value of around $5.4 billion.