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BioNTech stock slumps on worse-than-expected drop in revenue

Yahoo Finance

Yahoo Finance Live’s Julie Hyman breaks down the decline in stock for BioNTech.

Video transcript

JULIE HYMAN: A trending ticker you should keep an eye on, shares of Germany's BioNTech slumping as it forecast a worse-than-expected drop in its revenue this year amid drying-up demand for COVID vaccines. The group partnered up with Pfizer, remember, for its pandemic shot, but it's now warning revenue from COVID vaccines could drop to around 5 billion euros in 2023. The shares are down 4%.

We'll be right back.