- PFE
- BNTX
Key Points
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BioNTech reported Q3 revenue of €1.3 billion, down from €1.5 billion a year earlier due to weaker COVID-19 vaccine demand, but raised its 2026 revenue outlook to €1.7 billion–€1.9 billion. The company ended the quarter with €16.2 billion in cash and investments.
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The company highlighted progress in oncology, including encouraging gotistobart lung-cancer survival data and strong early response rates for pumitamig-based combinations. BioNTech expects to begin registrational-intent lung-cancer trials in 2027.
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BioNTech is reallocating resources toward late-stage programs while reviewing mixed mRNA and ADC results, including discontinuing one colorectal-cancer trial and assessing safety concerns with trastuzumab pamirtecan. CEO and co-founder Uğur Şahin said this would be his final earnings call before Guido Oelkers takes over by February 1.
BioNTech (NASDAQ:BNTX) reported third-quarter 2026 revenue of €1.3 billion, down from €1.5 billion a year earlier, as lower demand for its COVID-19 vaccine weighed on results. The company raised the midpoint of its full-year revenue outlook while highlighting progress across its late-stage oncology pipeline, including lung cancer, breast cancer and mRNA cancer immunotherapy programs.
Chief Executive Officer and co-founder Uğur Şahin said BioNTech is advancing toward its objective of becoming a diversified, multi-product biopharmaceutical company by 2030. Şahin also said the call would be his last earnings call as CEO. The company previously announced that Guido Oelkers is expected to take office as CEO by Feb. 1 at the latest.
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“With a growing pipeline of potentially registrational trials, strong partnerships, and financial strength, we are on track to become a diversified multi-product company by 2030,” Şahin said.
Financial Results and Updated Outlook
BioNTech recorded €613 million in third-quarter revenue from its global partnership with Bristol Myers Squibb related to the co-development and co-commercialization of pumitamig, its PD-L1 and VEGF-A-targeting bispecific antibody candidate.
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Adjusted research and development expense increased to €579 million from €479 million in the prior-year quarter, reflecting increased investment in prioritized immuno-oncology and antibody-drug conjugate, or ADC, programs. On an IFRS basis, R&D expense was €748 million, including €169 million of impairment losses related to intangible assets outside the company’s strategic focus.
