Shares of BioNTech SE ( BNTX ) are trading lower on Tuesday as the company reported mixed first-quarter financial results.

The stock’s decline comes amid a broader market rally, with major indices like the Nasdaq up by 1.19% and the S&P 500 gaining 0.72%.

• BioNTech stock is under selling pressure. What’s pulling BNTX shares down?

BioNTech Revenue Miss, Wider Net Loss Pressure Sentiment

In its first-quarter financial results, BioNTech reported revenues of 118.1 million euros ($138 million), down from 182.8 million euros a year ago, missing the consensus estimate of $214.62 million.

The sales fell primarily due to lower sales of its COVID-19 vaccines.

The company also recorded a net loss of 531.9 million euros, compared to a net loss of 415.8 million euros in the prior year.

The COVID-19 vaccine maker reported an adjusted loss of 1.95 euros ($2.28), better than the Street’s loss expectation of $2.52.

“Our revenues for the first quarter reflect the seasonal demand for COVID-19 vaccines and are in line with our expectations,” said Ramón Zapata, CFO at BioNTech. “We are committed to a diligent capital allocation strategy that empowers us to pursue our goal of evolving into a leading biopharmaceutical company with multiple oncology products by 2030.”

Restructuring Plan Targets Cost Savings, Site Exits

BioNTech is planning to wind down operations at manufacturing sites in Idar-Oberstein, Marburg, Tübingen and Singapore, along with CureVac facilities, impacting up to 1,860 roles.

The exits from Idar-Oberstein, Marburg and Tübingen are targeted by end-2027, while Singapore operations are set to close in the first quarter of 2027. The company is evaluating divestment options for these sites, including partial or full sales.

The restructuring is expected to deliver phased cost savings, reaching roughly 500 million euros in recurring annual savings by 2029 at full run-rate.

BioNTech reiterated its FY2026 revenue guidance of 2 billion–2.3 billion euros ($2.33 billion–$2.68 billion), compared to the Wall Street estimate of $2.56 billion.

BNTX Stock Price Activity: BioNTech shares were down 3% at $96.37 at the time of publication on Tuesday, according to Benzinga Pro data.