-- Guido Oelkers, Ph.D., appointed to BioNTech Management Board as Chief
Executive Officer, taking office by February 1, 2027, at the latest
-- Advanced diversified pipeline now with 14 ongoing pivotal clinical trials
and more than ten novel-novel combinations across major tumor types
-- Multiple milestones achieved in 2026, including initiation of six pivotal
trials - five for pumitamig and one for B7-H3-targeting ADC candidate
elfetabart drozuntecan; upcoming 2026 catalysts include three late-stage
readouts expected across immunomodulators, antibody-drug conjugate and
mRNA cancer immunotherapies
-- Pumitamig in combination with chemotherapy showed encouraging efficacy in
first line non-small cell lung cancer and results presented at 2026 ASCO
Annual Meeting became the third global pumitamig data set consistently
showing efficacy across PD-L1 expression levels
-- Approval received for new variant-adapted COVID-19 vaccine by the
European Commission; further launch preparation underway as recommended
by regulators
-- Second quarter 2026 revenues of EUR105.6 million1, adjusted2 R&D expenses
of EUR477.1 million (IFRS R&D expenses of EUR551.0 million), and adjusted
SG&A3 expenses of EUR197.8 million
-- Revising full year 2026 financial guidance range for revenues to
EUR1.6--1.9 billion, adjusted R&D expenses to EUR2.0--2.3 billion, and
maintaining adjusted SG&A expenses of EUR700--800 million
-- Maintained strong financial position with cash, cash equivalents and
security investments of EUR16.6 billion4
Conference call and webcast scheduled for August 4, 2026, at 8:00 a.m. EDT (2:00 p.m. CEST)
MAINZ, Germany, August 4, 2026 (GLOBE NEWSWIRE) -- BioNTech SE (Nasdaq: BNTX, "BioNTech" or "the Company") today reported financial results for the three and six months ended June 30, 2026 and provided an update on its corporate progress.
"In the first half of 2026, we made important progress in turning our mission into reality. We significantly advanced our late-stage oncology pipeline, with six pivotal trials initiated; we pioneered the generation of first-in-class global Phase 2 data for an investigational PD-L1xVEGF bispecific antibody in first-line non-small cell lung cancer across PD-L1 expression levels and histologies; and we demonstrated at medical congresses that our novel-novel combination therapy strategy is gaining momentum," said Prof. Ugur Sahin, M.D., Chief Executive Officer and Co-Founder of BioNTech. "We look forward to welcoming BioNTech's next CEO. Guido Oelkers will take office by February 1, 2027, at the latest, and, together with the Management Board and teams across the company, is expected to continue to write the BioNTech success story."
Financial Review for Second Quarter and First Half of 2026
Second Quarter 2026 Second Quarter 2025
in millions
EUR, except
per share IFRS Adjusted IFRS Adjusted
data Results Results(2) Results Results(2)
----------- ---------- ----------- ----------
Revenues 105.6 105.6 260.8 260.8
----------- ---------- ----------- ----------
Net loss (820.8) (562.3) (386.6) (348.8)
----------- ---------- ----------- ----------
Diluted loss
per share (3.24) (2.22) (1.60) (1.45)
----------- ---------- ----------- ----------
Year-to-date 2026 Year-to-date 2025
in millions
EUR,
except per IFRS Adjusted IFRS Adjusted
share data Results Results(2) Results Results(2)
---------- ----------- ----------- -----------
Revenues 223.7 223.7 443.6 443.6
---------- ----------- ----------- -----------
Net loss (1,352.7) (1,056.9) (802.4) (779.6)
---------- ----------- ----------- -----------
Diluted loss
per share (5.34) (4.17) (3.33) (3.23)
---------- ----------- ----------- -----------
Below figures compare the second quarter of 2026 and the year-to-date period ended June 30, 2026, to the corresponding prior year periods, except as noted.
Revenues were EUR105.6 million for the second quarter of 2026, compared to EUR260.8 million. Year-to-date revenues were EUR223.7 million, compared to EUR443.6 million. The decreases in both quarterly and year-to-date revenues compared to the prior year were primarily driven by lower demand from BioNTech's COVID-19 vaccines.
Research and development ("R&D") expenses were EUR551.0 million for the second quarter of 2026, compared to EUR509.1 million. Year-to-date R&D expenses were EUR1,108.0 million, compared to EUR1,034.7 million. R&D expenses were mainly driven by higher expenses for the development of immuno-oncology ("IO") and antibody-drug conjugate ("ADC") programs, in particular pumitamig and gotistobart, impairment losses of intangible assets, and the inclusion of operations from CureVac, which was acquired in late 2025. The quarterly and year-to-date increases were partially offset by lower costs from non-focus programs and positive effects from cost shares with BioNTech's collaboration partners.
Adjusted R&D expenses were EUR477.1 million for the second quarter of 2026, compared to EUR509.1 million. Year-to-date adjusted R&D expenses were EUR1,004.2 million, compared to EUR1,034.7 million. Adjusted R&D expenses for both the second quarter and year-to-date period in 2026 exclude impairment losses of intangible assets.
Sales, general and administrative ("SG&A") expenses were EUR197.8 million for the second quarter of 2026, compared to EUR137.4 million. Year-to-date SG&A expenses were EUR348.6 million, compared to EUR258.0 million. The increases in both quarterly and year-to-date were mainly driven by the ongoing pre--launch activities and commercial build-up, the inclusion of operations from CureVac, and expenses associated with BioNTech's global initiative on scaling processes and ERP infrastructure to strengthen operational execution. This was partly offset by cost reductions resulting from the execution of initiatives related to BioNTech's pipeline prioritization and increased cost discipline.
Other operating result was negative EUR207.9 million for the second quarter of 2026, compared to negative EUR39.0 million. Year-to-date other operating result was negative EUR224.3 million, compared to negative EUR25.9 million. Both quarterly and year-to-date decreases were primarily driven by higher expenses in connection with BioNTech's pipeline prioritization.
Adjusted other operating result was negative EUR23.3 million for the second quarter of 2026, compared to negative EUR1.2 million. Year-to-date adjusted other operating result was negative EUR32.3 million, compared to negative EUR3.1 million. Adjusted other operating results for both the second quarter and year-to-date periods in 2026 and 2025 exclude employee-related costs and impairment losses, both related to BioNTech's pipeline prioritization.
Net loss was EUR820.8 million for the second quarter of 2026, compared to a net loss of EUR386.6 million. Year-to-date net loss was EUR1,352.7 million, compared to a net loss of EUR802.4 million.
Adjusted net loss was EUR562.3 million for the second quarter of 2026, compared to an adjusted net loss of EUR348.8 million. Year-to-date adjusted net loss was EUR1,056.9 million, compared to an adjusted net loss of EUR779.6 million.
Diluted loss per share was EUR3.24 for the second quarter of 2026, compared to a diluted loss per share of EUR1.60. Year-to-date diluted loss per share was EUR5.34, compared to a diluted loss per share of EUR3.33.
Adjusted diluted loss per share was EUR2.22 for the second quarter of 2026, compared to an adjusted diluted loss per share of EUR1.45. Year-to-date adjusted diluted loss per share was EUR4.17, compared to adjusted diluted loss per share of EUR3.23.
Cash, cash equivalents and security investments as of June 30, 2026 were EUR16,634.2 million, comprising EUR9,741.0 million in cash and cash equivalents, EUR5,035.1 million in current security investments disclosed as financial assets and EUR1,858.1 million in non-current security investments disclosed as financial assets.
Shares outstanding as of June 30, 2026 were 251,204,366, excluding 7,823,121 shares held in treasury.
In May 2026, BioNTech entered into a share repurchase program, pursuant to which the Company may purchase American Depositary Shares ("ADSs"), each representing one ordinary share of the Company, in the amount of up to $1.0 billion until and including May 6, 2027. During the second quarter of 2026, 1,693,056 ADSs were repurchased at an average price of $89.50 (EUR77.85), for total consideration of $151.6 million (EUR131.8 million).
"We are revising our full-year 2026 financial guidance in light of recently emerged external developments," said Ramón Zapata, Chief Financial Officer at BioNTech. "Our capital allocation strategy is delivering results: our financial position is strong, our share repurchase program is well underway, and we continue to make meaningful progress across our pipeline. Moving forward, we continue to execute on our strategy to turn BioNTech into a multi-product biopharmaceutical company by 2030."
Revised 2026 Financial Year Guidance(5) :
2026 FY Guidance (March 2026 FY Guidance (August
2026) 2026)
----------------------- ------------------------
Revenues EUR2,000 -- EUR2,300 EUR1,600 -- EUR1,900
million million
----------------------- ------------------------
BioNTech is revising its full-year 2026 financial guidance revenue range due to:
-- COVID-19 vaccine market
-- Softer than anticipated global COVID-19 vaccine demand
-- In Germany existing vaccine inventory will be used in the 2026
vaccination season
-- The timing of milestone-related revenues resulting from an out-licensed
R&D program, which are no longer expected in 2026.
BioNTech continues to expect the majority of 2026 revenues to be realized in the second half of the year, specifically in the third quarter, when it also expects to recognize the EUR613 million Bristol Myers Squibb Company ("BMS") collaboration revenue.
Planned 2026 Financial Year Adjusted Expenses(5) :
2026 FY Guidance (March 2026 FY Guidance (August
2026) 2026)
------------------------ ------------------------
Adjusted R&D EUR2,200 -- EUR2,500 EUR2,000 -- EUR2,300
expenses million million
------------------------ ------------------------
Adjusted SG&A
expenses(3) EUR700 -- EUR800 million EUR700 -- EUR800 million
------------------------ ------------------------
BioNTech now expects adjusted R&D expenses in the range of EUR2.0 billion to EUR2.3 billion. Adjusted SG&A expenses remain unchanged in the range of EUR700 million to EUR800 million.
This reflects BioNTech's focus on optimizing its R&D resources and continued cost discipline as it prioritizes the development of its late-stage clinical pipeline. The Company expects these cost savings based on prioritization and optimization to continue into future years.
BioNTech's strong balance sheet and continued cost discipline support the Company's ability to invest strategically.
The full interim unaudited condensed consolidated financial statements can be found in BioNTech's Report on Form 6-K for the period ended June 30, 2026, filed today with the United States Securities and Exchange Commission ("SEC") and available at www.sec.gov.
Endnotes
(1) All numbers in this press release have been rounded.
(2) In addition to BioNTech's results determined in accordance with International Financial Reporting Standards ("IFRS"), or IFRS Accounting Standards, or IFRS results, BioNTech reports certain adjusted, non-IFRS measures used internally as a supplemental measure of the Company's business performance (each referred to with the prefix "Adjusted" or, as a whole, "Adjusted Results"). The calculation of these measures and the adjusted results as a whole is based on the concepts of the applicable IFRS Accounting Standards, but includes certain adjustments. Reconciliation of the adjusted results to BioNTech's measures based on IFRS Accounting Standards and more information can be found at the end of this press release and in BioNTech's Report on Form 6-K for the period ended June 30, 2026, filed on August 4, 2026, which is available at www.sec.gov. While non-IFRS measures may offer additional insights, BioNTech's non-IFRS measures are not, and should not be viewed as, a substitute for their most directly comparable IFRS Accounting Standards measures, and should always be considered alongside the Company's financial statements prepared in accordance with IFRS Accounting Standards. Unless otherwise indicated, Adjusted Results are identical to IFRS Results.
(3) Sales, general and administrative expenses ("SG&A") include sales and marketing expenses as well as general and administrative expenses. Adjusted SG&A expenses include adjusted sales and marketing expenses as well as adjusted general and administrative expenses.
(4) As of June 30, 2026.
(5) Excludes risks that are not yet known and/or quantifiable and related activities. Includes effects identified from licensing arrangements, collaborations and Merger & Acquisitions ("M&A") transactions to the extent disclosed. The guidance is based on non-IFRS measures and excludes certain effects compared to measures based on IFRS Accounting Standards. More information can be found in BioNTech's Report on Form 6-K for the period ended June 30, 2026, filed on August 4, 2026, which is available at www.sec.gov.
(6) An overview of abbreviations of target structures and indications is compiled in a directory at the end of this press release.
Corporate and Commercial Update for the Second Quarter 2026 and Post Period Events
-- On August 3, 2026, BioNTech announced that the Supervisory Board has
appointed Guido Oelkers, Ph.D., to the Management Board as Chief
Executive Officer ("CEO"), who will take office by February 1, 2027, at
the latest, succeeding Prof. Ugur Sahin, M.D. Guido Oelkers is a seasoned
CEO and strategic leader with over 30 years of experience in the
biotechnology and pharmaceutical industries. He has a strong track record
of transforming and scaling global organizations, driving sustainable
growth through disciplined execution, focused capital allocation, and
operational excellence. Throughout his career, Guido Oelkers has
successfully built, prioritized and strengthened complex and innovative
product portfolios across multiple areas, including oncology and
immunology, while driving global business operations in key markets,
notably in the United States. He will join BioNTech from the global
Nasdaq Stockholm-listed biopharmaceutical company Swedish Orphan
Biovitrum AB ("Sobi"), where he has served as CEO since 2017.
-- In May 2026, the Company held its Annual General Meeting ("AGM").
Shareholders approved expanding the Supervisory Board from six to eight
members and adding additional expertise: Prof. Iris Löw-Friedrich,
M.D., Ph.D., and Susanne Schaffert, Ph.D., were elected as new members of
the Supervisory Board.
Variant-adapted COVID-19 Vaccine
-- BioNTech and Pfizer Inc. ("Pfizer") have submitted regulatory
applications to the European Medicines Agency ("EMA") and to the United
States Food and Drug Administration ("FDA") for approval of their XFG
variant-adapted monovalent COVID-19 vaccine for the 2026-2027 vaccination
season.
-- In July 2026, BioNTech and Pfizer's XFG variant-adapted monovalent
COVID-19 vaccine was approved by the European Commission following
recommendation for marketing authorization by the EMA's Committee for
Medicinal Products for Human Use ("CHMP").
Select Oncology Pipeline Updates
Next-Generation Immunomodulators and Combinations
Pumitamig (BNT327/BMS986545) is an investigational bispecific immunomodulator combining PD-L1(6) checkpoint inhibition with VEGF-A neutralization that is being developed in collaboration with BMS.
-- Pumitamig is currently being evaluated in seven pivotal trials across the
ROSETTA clinical development program, with five new global clinical
trials initiated in the first half of 2026 spanning triple-negative
breast cancer, colorectal cancer, gastric cancer, and non-small cell lung
cancer, including two NSCLC clinical trials in patients with unresectable
stage III disease and advanced PD-L1 >= 50% disease, respectively.
-- A global Phase 2/3 clinical trial (ROSETTA Lung-02; NCT06712316) is
ongoing to evaluate pumitamig in combination with chemotherapy compared
to pembrolizumab and chemotherapy in patients with first-line NSCLC. The
Phase 3 part of the trial is currently recruiting. In May 2026, data from
the Phase 2 part of the trial was presented at the American Society of
Clinical Oncology ("ASCO") Annual Meeting 2026. The data showed
encouraging anti-tumor activity, with high response rates observed in
both non-squamous and squamous NSCLC and across PD-L1 expression levels.
-- Pumitamig is also being evaluated in additional solid tumor indications,
including first-line hepatocellular carcinoma ("HCC"), second-line
glioblastoma ("GBM"), first-line pancreatic ductal adenocarcinoma
("PDAC") and first-line renal cell carcinoma ("RCC") in various Phase 1/2
and Phase 2 trials, both as monotherapy and in combination with standard
of care.
-- BioNTech has several signal-seeking clinical trials ongoing evaluating
pumitamig in novel/novel combinations with the Company's proprietary
assets. These trials will inform the dose selection for pumitamig and
explore anti-tumor activity in multiple tumors for later-stage
development. Multiple data readouts from these combinations are expected
in 2026.
Gotistobart (BNT316/ONC-392) is a tumor microenvironment-selective regulatory T cell depletion candidate that targets CTLA-4 and is being developed in collaboration with OncoC4, Inc. ("OncoC4").
-- A global Phase 3 clinical trial (PRESERVE-003; NCT05671510) is ongoing to
evaluate the efficacy and safety of gotistobart as monotherapy in
patients with metastatic squamous NSCLC that progressed on previous
platinum-based chemotherapy and PD-(L)1-inhibitor treatment.
-- In March 2026, updated data from the non-pivotal dose-confirmation stage,
the first of two stages of the global Phase 3 clinical trial, were
presented at the European Lung Cancer Congress ("ELCC"). Gotistobart
demonstrated a clinically meaningful overall survival benefit (hazard
ratio: 0.46) compared to standard of care chemotherapy and a manageable
safety profile in patients with squamous NSCLC whose disease had
progressed following anti-PD-(L)1 therapy and platinum-based
chemotherapy.
-- Updated data from the Stage 1 of this trial are expected to be presented
at the International Association for the Study of Lung Cancer ("IASLC")
2026 World Conference on Lung Cancer ("WCLC").
-- Based on current event accrual projections, the first interim analysis
from Stage 2 of the two-stage Phase 3 clinical trial is expected in 2026.
-- A Phase 2 clinical trial (PRESERVE-004; NCT05446298) is being conducted
to evaluate gotistobart in combination with pembrolizumab in patients
with platinum-resistant ovarian cancer ("PROC").
-- In May 2026, data from the trial were presented at the ASCO Annual
Meeting 2026. Gotistobart in combination with pembrolizumab demonstrated
encouraging and durable antitumor activity in heavily pretreated patients
with PROC.
Antibody-Drug Conjugates
Trastuzumab pamirtecan (BNT323/DB-1303) is an ADC candidate targeting HER2 that is being developed in collaboration with Duality Biologics (Suzhou) Co. Ltd. ("DualityBio").
-- A Phase 1/2 clinical trial (NCT05150691) is being conducted to evaluate
trastuzumab pamirtecan in patients with advanced HER2-expressing tumors.
A potentially registrational cohort with HER2-expressing (IHC3+, 2+, 1+
or ISH-positive) patients with recurrent endometrial cancer ("EC") is
fully recruited.
-- In June 2026, additional data were presented from the Phase 2 portion of
the trial at the ESMO Gynaecological Cancers Congress 2026 in Copenhagen,
Denmark. Trastuzumab pamirtecan showed encouraging and durable anti-tumor
activity and meaningful survival in patients with advanced
HER2-expressing endometrial cancer. The safety profile was manageable and
consistent with the known class effects of anti-HER2 ADCs.
-- A Phase 3 clinical trial (FERN-EC-01, NCT06340568) is being conducted to
evaluate trastuzumab pamirtecan compared to investigator's choice of
chemotherapy in patients with advanced and HER2-expressing recurrent EC.
-- A Phase 3 clinical trial (DYNASTY-Breast02, NCT06018337) to evaluate
trastuzumab pamirtecan in patients with HR-positive, HER2-low metastatic
breast cancer is ongoing. Based on current event accrual projections, the
primary analysis is expected in the fourth quarter 2026.
-- While BioNTech and DualityBio plan to file a biologics license
application ("BLA") in 2026, the companies will determine the optimal
regulatory path for trastuzumab pamirtecan based on the totality of
clinical data in endometrial cancer and breast cancer. This approach is
in line with the companies' value-optimization strategy for the asset in
an evolving treatment landscape and focuses on prioritizing opportunities
where they can deliver significant benefit for patients.
Elfetabart drozuntecan (BNT324/DB-1311) is an ADC candidate targeting B7-H3 that is being developed in collaboration with DualityBio. More than one thousand patients have now been treated with elfetabart drozuntecan in clinical trials across more than ten tumor types, including 400 patients treated with elfetabart drozuntecan in combination with pumitamig.
-- In May 2026, a Phase 3 clinical trial (NCT07365995) to evaluate
elfetabart drozuntecan compared to docetaxel in patients with metastatic
castration-resistant prostate cancer ("mCRPC") was initiated.
Upcoming Investor and Analyst Events
-- BioNTech Third Quarter 2026 Financial Results and Corporate Update:
November 3, 2026
Conference Call and Webcast Information
BioNTech invites investors and the general public to join a conference call and webcast with investment analysts today, August 4, 2026, at 8:00 a.m. EDT (2:00 p.m. CEST) to report its financial results and provide a corporate update for the second quarter of 2026.
To access the live conference call via telephone, please register via this link. Once registered, dial-in numbers and a PIN number will be provided.
The slide presentation and audio of the webcast will be available via this link.
Participants may also access the slides and the webcast of the conference call via the "Events & Presentations" page of the Investor section of the Company's website at www.BioNTech.com. A replay of the webcast will be made available shortly after the closing of the call and archived on the Company's website for 30 days following the call.
About BioNTech
BioNTech is a global next generation biopharmaceutical company pioneering novel investigative therapies for cancer and other serious diseases. In oncology, BioNTech is committed to transforming how cancer is treated. Its ambition is to develop innovative medicines with pan-tumor or synergistic potential to address cancer from multiple angles and across the full continuum of the disease from early- to late-stage. Its growing late-stage oncology pipeline comprises complementary treatment approaches spanning immunomodulators, antibody drug conjugates, and mRNA cancer immunotherapies. BioNTech has partnered with multiple global and specialized pharmaceutical collaborators leveraging complementary expertise and resources to accelerate innovation and drive progress, including Bristol Myers Squibb, Duality Biologics, Genentech, a member of the Roche Group, Genmab, MediLink, OncoC4, and Pfizer.
For more information, please visit www.BioNTech.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, but not limited to, statements concerning: BioNTech's expected revenues and net profit/(loss) related to sales of BioNTech's COVID-19 vaccine in territories controlled by BioNTech's collaboration partners, particularly for those figures that are derived from preliminary estimates provided by BioNTech's partners; the rate and degree of market acceptance of BioNTech's COVID-19 vaccine and, if approved, BioNTech's investigational medicines; expectations regarding anticipated changes in COVID-19 vaccine demand, including changes to the ordering environment and expected regulatory recommendations to adapt vaccines to address new variants or sublineages; the initiation, timing, progress, results, and cost of BioNTech's research and development programs, including BioNTech's current and future preclinical studies and clinical trials, including statements regarding the expected timing of initiation, enrollment, and completion of studies or clinical trials and related preparatory work and the availability of results, and the timing and outcome of applications for regulatory approvals and marketing authorizations; BioNTech's expectations regarding potential future commercialization in oncology, including goals regarding timing and indications; the targeted timing and number of additional potentially registrational clinical trials, and the registrational potential of any clinical trial BioNTech may initiate; BioNTech's expectations regarding the impact of changes to its manufacturing operations; discussions with regulatory agencies; BioNTech's expectations with respect to intellectual property; the impact of BioNTech's collaboration and licensing agreements, including BioNTech's partnership with Bristol Myers Squibb; BioNTech's expectations with respect to developments in law, public policy, and international trade; BioNTech's estimates of revenues, research and development expenses, selling, general and administrative expenses and capital expenditures for operating activities; BioNTech's expectations for upcoming scientific and investor presentations; and BioNTech's expectations of net profit/(loss). In some cases, forward-looking statements can be identified by terminology such as "will," "may," "should," "expects," "intends," "plans," "aims," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words.
The forward-looking statements in this press release are based on BioNTech's current expectations and beliefs of future events, and are neither promises nor guarantees. You should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond BioNTech's control and which could cause actual results to differ materially and adversely from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: the uncertainties inherent in research and development, including the ability to meet anticipated clinical endpoints, commencement and/or completion dates for clinical trials, projected data release timelines, regulatory submission dates, regulatory approval dates and/or launch dates, as well as risks associated with preclinical and clinical data, including the data discussed in this release, and including the possibility of unfavorable new preclinical, clinical or safety data and further analyses of existing preclinical, clinical or safety data; the nature of the clinical data, which is subject to ongoing peer review, regulatory review and market interpretation; BioNTech's pricing and coverage negotiations with governmental authorities, private health insurers and other third-party payors; the future commercial demand and medical need for initial or annual booster doses of a COVID-19 vaccine; the impact of tariffs and escalations in trade policy; competition from other COVID-19 vaccines or related to BioNTech's other product candidates; the timing of and BioNTech's ability to obtain and maintain regulatory approval for its product candidates; the ability of BioNTech's COVID-19 vaccines to prevent COVID-19 caused by emerging virus variants; BioNTech's ability to identify research opportunities and discover and develop investigational medicines; the ability and willingness of BioNTech's third-party collaborators to continue research and development activities relating to BioNTech's development candidates and investigational medicines; unforeseen safety issues and potential claims that are alleged to arise from
the use of products and product candidates developed or manufactured by BioNTech; BioNTech's and its collaborators' ability to commercialize and market its product candidates, if approved; BioNTech's ability to manage its development and related expenses; regulatory and political developments; BioNTech's ability to effectively scale its production capabilities and manufacture its products and product candidates; expected changes to BioNTech's leadership and the transition of responsibilities at the Management Board, including identification and recruitment of successors; risks relating to the global financial system and markets; and other factors not known to BioNTech at this time.
You should review the risks and uncertainties described under the heading "Risk Factors" in BioNTech's Report on Form 6-K for the period ended June 30, 2026 and in subsequent filings made by BioNTech with the SEC, which are available on the SEC's website at www.sec.gov. These forward-looking statements speak only as of the date hereof. Except as required by law, BioNTech disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise.
CONTACTS
Investor Relations
Douglas Maffei, PhD
Investors@biontech.de
Media Relations
Jasmina Alatovic
Media@biontech.de
Abbreviation Overview
ADC Antibody-drug conjugate
-------------- -----------------------------------------------
B7-H3 Also known as CD276, cluster of differentiation
276
-------------- -----------------------------------------------
BLA Biologics license application
-------------- -----------------------------------------------
CTLA-4 Cytotoxic T-lymphocyte-associated protein
-------------- -----------------------------------------------
EC Endometrial cancer
-------------- -----------------------------------------------
GBM Glioblastoma
-------------- -----------------------------------------------
HCC Hepatocellular carcinoma
-------------- -----------------------------------------------
HER2 (or HER3) Human epidermal growth factor receptor
2 (or 3)
-------------- -----------------------------------------------
HR Hormone receptor
-------------- -----------------------------------------------
IHC3+, 2+, 1+ Immunohistochemistry score 1+ (or 2+
or 3+)
-------------- -----------------------------------------------
IO Immuno-oncology
-----------------------------------------------
ISH-positive In-situ hybridization positive
-------------- -----------------------------------------------
mCRPC Metastatic castration-resistant prostate
cancer
-------------- -----------------------------------------------
mRNA Messenger ribonucleic acid
-------------- -----------------------------------------------
NSCLC Non-small cell lung cancer
-------------- -----------------------------------------------
PDAC Pancreatic ductal adenocarcinoma
-------------- -----------------------------------------------
PD-(L)1 Programmed cell death protein (death-ligand)
1
-------------- -----------------------------------------------
PROC Platinum resistant ovarian cancer
-------------- -----------------------------------------------
RCC Renal cell carcinoma
-------------- -----------------------------------------------
VEGF-A Vascular endothelial growth factor A
-------------- -----------------------------------------------
Interim Condensed Consolidated Statements of Profit or Loss
Three months ended Six months ended June
June 30, 30,
2026 2025 2026 2025
(in millions EUR,
except per share
data) (unaudited) (unaudited) (unaudited) (unaudited)
----------- ----------- ----------- -----------
Revenues 105.6 260.8 223.7 443.6
----------- ----------- ----------- -----------
Cost of sales (97.0) (76.4) (168.4) (160.2)
----------- ----------- ----------- -----------
Research and
development
expenses (551.0) (509.1) (1,108.0) (1,034.7)
----------- ----------- ----------- -----------
Sales and marketing
expenses (40.1) (19.7) (68.0) (33.4)
----------- ----------- ----------- -----------
General and
administrative
expenses (157.7) (117.7) (280.6) (224.6)
----------- ----------- ----------- -----------
Other operating
expenses (248.1) (117.2) (281.3) (165.7)
----------- ----------- ----------- -----------
Other operating
income 40.2 78.2 57.0 139.8
----------- ----------- ----------- -----------
Operating loss (948.1) (501.1) (1,625.6) (1,035.2)
----------- ----------- ----------- -----------
Finance income 97.3 105.4 217.9 228.0
----------- ----------- ----------- -----------
Finance expenses (7.9) (7.0) (19.1) (40.9)
----------- ----------- ----------- -----------
Loss before tax (858.7) (402.7) (1,426.8) (848.1)
----------- ----------- ----------- -----------
Income taxes 37.9 16.1 74.1 45.7
----------- ----------- ----------- -----------
Net loss (820.8) (386.6) (1,352.7) (802.4)
----------- ----------- ----------- -----------
Loss per share
Basic and diluted
loss per share (3.24) (1.60) (5.34) (3.33)
----------- ----------- ----------- -----------
Interim Condensed Consolidated Statements of Financial Position
December
June 30 31,
(in millions EUR) 2026 2025
Assets (unaudited)
-----------
Non-current assets
Goodwill 373.3 367.9
----------- ---------
Other intangible assets 1,421.6 1,606.0
----------- ---------
Property, plant and equipment 1,036.1 1,080.9
----------- ---------
Right-of-use assets 182.2 210.2
----------- ---------
Contract assets -- 2.0
----------- ---------
Other financial assets 2,006.1 2,554.2
----------- ---------
Other non-financial assets 10.3 7.3
----------- ---------
Deferred tax assets 15.7 13.5
----------- ---------
Total non-current assets 5,045.3 5,842.0
----------- ---------
Current assets
Inventories 100.6 110.7
----------- ---------
Trade and other receivables 163.9 924.2
----------- ---------
Contract assets 10.4 8.1
----------- ---------
Other financial assets 5,037.8 7,201.8
----------- ---------
Other non-financial assets 172.7 173.8
----------- ---------
Income tax assets 70.9 52.6
----------- ---------
Cash and cash equivalents 9,741.0 7,675.4
----------- ---------
Total current assets 15,297.3 16,146.6
----------- ---------
Total assets 20,342.6 21,988.6
----------- ---------
Equity and liabilities
Equity
Share capital 259.0 259.0
----------- ---------
Capital reserve 2,339.1 2,473.3
----------- ---------
Treasury shares (7.8) (7.7)
----------- ---------
Retained earnings 16,609.2 17,961.9
----------- ---------
Other reserves (1,442.0) (1,462.3)
----------- ---------
Total equity 17,757.5 19,224.2
----------- ---------
Non-current liabilities
Lease liabilities, loans and borrowings 258.9 215.2
----------- ---------
Other financial liabilities 90.0 94.9
----------- ---------
Provisions 58.6 35.5
----------- ---------
Contract liabilities 87.6 88.0
----------- ---------
Other non-financial liabilities 107.5 104.2
----------- ---------
Deferred tax liabilities 33.3 84.3
----------- ---------
Total non-current liabilities 635.9 622.1
----------- ---------
Current liabilities
Lease liabilities, loans and borrowings 57.2 52.2
----------- ---------
Trade payables and other payables 646.7 534.9
----------- ---------
Other financial liabilities 78.3 351.7
----------- ---------
Income tax liabilities 21.2 65.6
----------- ---------
Provisions 234.9 145.3
----------- ---------
Contract liabilities 742.5 754.9
----------- ---------
Other non-financial liabilities 168.4 237.7
----------- ---------
Total current liabilities 1,949.2 2,142.3
----------- ---------
Total liabilities 2,585.1 2,764.4
----------- ---------
Total equity and liabilities 20,342.6 21,988.6
----------- ---------
Interim Condensed Consolidated Statements of Cash Flows
Three months
ended Six months ended
June 30, June 30,
2026 2025 2026 2025
(in millions EUR) (unaudited) (unaudited) (unaudited) (unaudited)
----------- ----------- ----------- -----------
Operating
activities
Net loss (820.8) (386.6) (1,352.7) (802.4)
----------- ----------- ----------- -----------
Income taxes (37.9) (16.1) (74.1) (45.7)
----------- ----------- ----------- -----------
Loss before tax (858.7) (402.7) (1,426.8) (848.1)
----------- ----------- ----------- -----------
Adjustments to
reconcile loss
before tax to net
cash flows:
Depreciation,
amortization and
impairment of
property, plant,
equipment,
intangible assets
and right-of-use
assets 266.1 51.0 387.4 93.8
-------------------- ----------- ----------- ----------- -----------
Share-based
payment expenses 20.9 32.1 43.7 54.2
-------------------- ----------- ----------- ----------- -----------
Net foreign
exchange
differences 17.3 12.2 17.7 60.5
-------------------- ----------- ----------- ----------- -----------
Gain on disposal
of property,
plant and
equipment (0.9) (0.3) (1.0) (0.4)
-------------------- ----------- ----------- ----------- -----------
Finance income
excluding foreign
exchange
differences (94.6) (105.4) (205.6) (228.0)
-------------------- ----------- ----------- ----------- -----------
Finance expense
excluding foreign
exchange
differences 7.9 6.6 19.1 14.5
-------------------- ----------- ----------- ----------- -----------
Government and
similar grants (14.5) (18.5) (32.1) (33.0)
-------------------- ----------- ----------- ----------- -----------
Other non-cash
income -- -- -- (15.0)
-------------------- ----------- ----------- ----------- -----------
Working capital
adjustments:
Decrease /
(Increase) in
trade and other
receivables,
contract assets
and other assets 366.0 (412.6) 797.1 108.4
-------------------- ----------- ----------- ----------- -----------
Decrease in
inventories 3.2 22.8 10.2 56.6
-------------------- ----------- ----------- ----------- -----------
(Decrease) /
Increase in trade
payables, other
financial
liabilities,
other
liabilities,
contract
liabilities,
refund
liabilities and
provisions 224.7 909.5 (147.2) (72.4)
-------------------- ----------- ----------- ----------- -----------
Interest received
and realized gains
from cash and cash
equivalents 70.8 73.1 157.4 191.7
----------- ----------- ----------- -----------
Interest paid and
realized losses
from cash and cash
equivalents (2.3) (2.7) (5.6) (5.8)
----------- ----------- ----------- -----------
Income tax paid, net (16.1) (14.9) (57.7) (27.1)
----------- ----------- ----------- -----------
Share-based payments (13.0) (11.5) (15.1) (15.1)
----------- ----------- ----------- -----------
Government and
similar grants
received 33.7 7.8 48.0 31.0
----------- ----------- ----------- -----------
Net cash flows from
/ (used in)
operating
activities 10.5 146.5 (410.5) (634.2)
----------- ----------- ----------- -----------
Investing
activities
Purchase of
property, plant and
equipment (54.6) (27.1) (111.4) (76.0)
----------- ----------- ----------- -----------
Proceeds from sale
of property, plant
and equipment 3.4 0.5 5.0 1.0
----------- ----------- ----------- -----------
Purchase of
intangible assets (0.8) (3.1) (22.9) (572.3)
----------- ----------- ----------- -----------
Acquisition of
subsidiaries and
businesses, net of
cash acquired -- -- -- (78.5)
----------- ----------- ----------- -----------
Investment in other
financial assets (2,055.9) (1,670.0) (3,606.1) (4,177.7)
----------- ----------- ----------- -----------
Proceeds from
maturity of other
financial assets 2,007.8 1,635.3 6,285.9 6,085.9
----------- ----------- ----------- -----------
Net cash flows from
/ (used in)
investing
activities (100.1) (64.4) 2,550.5 1,182.4
----------- ----------- ----------- -----------
Financing
activities
Proceeds from loans
and borrowings 37.8 -- 76.2 --
----------- ----------- ----------- -----------
Repayment of loans
and borrowings (5.8) (3.7) (5.9) (8.2)
----------- ----------- ----------- -----------
Payments related to
lease liabilities (11.3) (9.6) (23.2) (18.9)
----------- ----------- ----------- -----------
Share repurchase
program (129.2) -- (129.2) --
----------- ----------- ----------- -----------
Net cash flows used
in financing
activities (108.5) (13.3) (82.1) (27.1)
----------- ----------- ----------- -----------
Net increase /
(decrease) in cash
and cash
equivalents (198.1) 68.8 2,057.9 521.1
----------- ----------- ----------- -----------
Change in cash and
cash equivalents
resulting from
exchange rate
differences (3.3) 9.2 (6.7) (6.9)
----------- ----------- ----------- -----------
Change in cash and
cash equivalents
resulting from
other valuation
effects 3.0 6.6 14.4 (6.6)
----------- ----------- ----------- -----------
Cash and cash
equivalents at the
beginning of the
period 9,939.4 10,184.9 7,675.4 9,761.9
----------- ----------- ----------- -----------
Cash and cash
equivalents as of
June 30 9,741.0 10,269.5 9,741.0 10,269.5
----------- ----------- ----------- -----------
Certain prior period lines were aggregated to conform to current period presentation and to improve readability.
Non-IFRS Reconciliation
Non-IFRS Reconciliation for the three months ended June 30,
2026
non-IFRS adjustments (unaudited)
------------------------------------------------------
IFRS Adjusted
Results Results
----------- ---------- ---------------- -----------
Income from
bargain
purchase
and income
and
expenses
Expenses from
(in millions EUR, and income Impairment Employee-related divestiture
except per share from legal and expenses from related
data) (unaudited) proceedings reversal restructuring items (unaudited)
----------- ----------- ---------- ---------------- ----------- -----------
Research and
development
expenses (551.0) -- 73.9 -- -- (477.1)
----------- ----------- ---------- ---------------- ----------- -----------
Other operating
expenses (248.1) -- 87.0 97.6 -- (63.5)
----------- ----------- ---------- ---------------- ----------- -----------
Operating loss (948.1) -- 160.9 97.6 -- (689.6)
----------- ----------- ---------- ---------------- ----------- -----------
Loss before tax (858.7) -- 160.9 97.6 -- (600.2)
----------- ----------- ---------- ---------------- ----------- -----------
Net loss(1) (820.8) -- 160.9 97.6 -- (562.3)
----------- ----------- ---------- ---------------- ----------- -----------
Loss per share
Basic and diluted
loss per share (3.24) (2.22)
----------- -----------
(1) Tax effects are not considered as part of BioNTech's non-IFRS adjustments.
Non-IFRS Reconciliation for the three months ended June 30,
2025
non-IFRS adjustments (unaudited)
------------------------------------------------------
IFRS Adjusted
Results Results
----------- ---------- ---------------- -----------
Income from
bargain
purchase
and income
and
expenses
Expenses from
(in millions EUR, and income Impairment Employee-related divestiture
except per share from legal and expenses from related
data) (unaudited) proceedings reversal restructuring items (unaudited)
----------- ---------- ---------------- -----------
Other operating
expenses (117.2) -- 10.0 27.8 -- (79.4)
----------- ----------- ---------- ---------------- ----------- -----------
Operating loss (501.1) -- 10.0 27.8 -- (463.3)
----------- ----------- ---------- ---------------- ----------- -----------
Loss before tax (402.7) -- 10.0 27.8 -- (364.9)
----------- ----------- ---------- ---------------- ----------- -----------
Net loss(1) (386.6) -- 10.0 27.8 -- (348.8)
----------- ----------- ---------- ---------------- ----------- -----------
Loss per share
Basic and diluted
loss per share (1.60) (1.45)
----------- -----------
(1) Tax effects are not considered as part of BioNTech's non-IFRS adjustments.
Non-IFRS Reconciliation for the six months ended June 30, 2026
non-IFRS adjustments (unaudited)
------------------------------------------------------
IFRS Adjusted
Results Results
----------- ---------- ---------------- -----------
Income from
bargain
purchase
and income
and
expenses
Expenses from
(in millions EUR, and income Impairment Employee-related divestiture
except per share from legal and expenses from related
data) (unaudited) proceedings reversal restructuring items (unaudited)
----------- ----------- ---------- ---------------- ----------- -----------
Research and
development
expenses (1,108.0) -- 103.8 -- -- (1,004.2)
----------- ----------- ---------- ---------------- ----------- -----------
Other operating
expenses (281.3) -- 87.0 105.0 -- (89.3)
----------- ----------- ---------- ---------------- ----------- -----------
Operating loss (1,625.6) -- 190.8 105.0 -- (1,329.8)
----------- ----------- ---------- ---------------- ----------- -----------
Loss before tax (1,426.8) -- 190.8 105.0 -- (1,131.0)
----------- ----------- ---------- ---------------- ----------- -----------
Net loss(1) (1,352.7) -- 190.8 105.0 -- (1,056.9)
----------- ----------- ---------- ---------------- ----------- -----------
Loss per share
Basic and diluted
loss per share (5.34) (4.17)
----------- -----------
(1) Tax effects are not considered as part of BioNTech's non-IFRS adjustments.
Non-IFRS Reconciliation for the six months ended June 30, 2025
non-IFRS adjustments (unaudited)
------------------------------------------------------
IFRS Adjusted
Results Results
----------- ---------- ---------------- -----------
Income from
bargain
purchase
and income
and
expenses
Expenses from
(in millions EUR, and income Impairment Employee-related divestiture
except per share from legal and expenses from related
data) (unaudited) proceedings reversal restructuring items (unaudited)
----------- ----------- ---------- ---------------- ----------- -----------
Other operating
expenses (165.7) -- 10.0 27.8 -- (127.9)
----------- ----------- ---------- ---------------- ----------- -----------
Other operating
income 139.8 -- -- -- (15.0) 124.8
----------- ----------- ---------- ---------------- ----------- -----------
Operating loss (1,035.2) -- 10.0 27.8 (15.0) (1,012.4)
----------- ----------- ---------- ---------------- ----------- -----------
Loss before tax (848.1) -- 10.0 27.8 (15.0) (825.3)
----------- ----------- ---------- ---------------- ----------- -----------
Net loss(1) (802.4) -- 10.0 27.8 (15.0) (779.6)
----------- ----------- ---------- ---------------- ----------- -----------
Loss per share
Basic and diluted
loss per share (3.33) (3.23)
----------- -----------
(1) Tax effects are not considered as part of BioNTech's non-IFRS adjustments.