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What’s Next for Evotec, BioNTech, Medigene and Bayer?

BioNTech saw a sharp drop in profits, starting 2024 with a €315 million loss, down from a €502 million profit the previous year, and sales plummeting from €1.27 billion to €187.6 million. Despite this, BioNTech anticipates 2024 sales of €2.5-3.1 billion and aims to launch its first cancer drug by 2026. Bayer was able to successfully rise above the 29 euros mark last week.




The biotechnology company BioNTech made big profits in 2021 and 2022 with its corona vaccine “Comirnaty”. So far this year, the track record doesn’t look too positive.

As reported, BioNTech started the 2024 financial year with a loss of 315 million euros. In the previous year there was a profit of 502 million euros. Sales collapsed from 1.27 billion euros in the first quarter of 2023 to 187.6 million euros.

BioNTech might loose over 400 million euros

Despite the decreased revenue from the corona vaccine, BioNTech continues to deliver adapted Covid-19 vaccines for the coming 2024/2025 flu season in accordance with the requirements of the WHO and the EMA. For the full year 2024, BioNTech therefore continues to expect sales of between 2.5 and 3.1 billion euros.

In 2026, BioNTech wants to bring its first cancer drug onto the market, as two studies are currently in late phase 3. A study on an active ingredient candidate against lung cancer has been running since June last year, and another active ingredient against breast cancer was added in 2024.

Analysts on the Refinitiv Eikon platform confirm the sales forecast at 2.8 billion euros, but expect a loss of over 400 million euros. With 16.5 billion euros in cash on hand, this is probably not an issue. Optimistically, 8 out of 18 analysts vote to buy, the average price expectation is 25% above the current price. Technically the BioNTech chart stabilizes around 85 euros.

Medigene is continuing its research activities with a successful capital measure worth around 5.9 million euros

According to the company, the proceeds will be used to fund operations and continue work toward clinical development of MDG1015. Medigene is an immuno-oncology platform company focused on the research and development of T-cell immunotherapies for solid tumors.

The end-to-end platform offers product candidates for both its own therapeutics pipeline and for partnerships. Medigene’s lead T cell receptor-modified T cell (TCR-T) program MDG1015 is expected to receive IND/CTA approval in the second half of 2024.

“We are very pleased to announce the completion of this financing round from Medigene. It is one of the first successful transactions of a listed small-cap biotech company in Europe and the only one in Germany in 2024. This oversubscribed capital increase has significantly strengthened our financial position.” said CEO Selwyn Ho.

“The proceeds will enable Medigene to advance the development of its differentiated TCR-T therapies while entering into new partnerships to extend its end-to-end platform to additional TCR-based modalities such as T cell engagers and TCR-T. “Expand natural killer therapies.”

With 29.475 million shares, the market capitalization of the Munich biotech company is now back to 42.8 million euros. The research houses HC Wainwright and Baader Helvea have published purchase studies with price targets of 3.00 euros and 2.35 euros, respectively. After raising funds, there will soon be a lot of news waiting for investors. Among the listed immuno-oncology companies, Medigene has been in business for a long time and yet has a low valuation. Interesting!

Despite the decreased revenue from the corona vaccine, BioNTech continues to deliver adapted Covid-19 vaccines. Source

Bayer and Evotec – Does this already look like a turning point?

While Bayer was able to successfully rise above the 29 euros mark last week, Evotec is still struggling with its 40% fall to below 10 euros. With a current price of 9.54 euros, investors are now eagerly awaiting the new management’s statements about the first quarter and the rest of the year. The Q1 figures are expected for May 22nd, with analysts estimating a loss per share of 0.0667 euros on average.

The analysis house Warburg Research has initially lowered the price target for the Hamburg company from 25 euros to 18 euros, but left the rating at “Buy”. The experts identify major imponderables when the new CEO announces the measures of the upcoming restructuring program. New brooms usually sweep vigorously and remove the legacy of their predecessors so that new fruit can grow on the tree in the future.

Evotec is well positioned and runs many partner programs. The valuation recently fell to a three-year low. There is still a good risk-reward profile for speculative investors.

Bayer is still dealing with some glyphosate lawsuits. What is interesting, however, is that the last negative reports have no longer led to any sales. Only 5 out of 25 analysts would currently buy the stock if that wasn’t absolutely negative sentiment. We recommended initial positions at 27.50 euros, and now at just under 29 euros, long-term investors should add further positions.


(Featured image by  HakanGERMAN via Pixabay)

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Eva Wesley is an experienced journalist, market trader, and financial executive. Driven by excellence and a passion to connect with people, she takes pride in writing think pieces that help people decide what to do with their investments. A blockchain enthusiast, she also engages in cryptocurrency trading. Her latest travels have also opened her eyes to other exciting markets, such as aerospace, cannabis, healthcare, and telcos.