Key Highlights

  • Third-quarter 2026 revenues were EUR 1.3 billion versus EUR 1.5 billion, including EUR 613 million recognized from the BMS partnership.
  • Adjusted R&D expenses were EUR 579 million versus EUR 479 million; SG&A was EUR 179 million versus EUR 149 million.
  • Cash equivalents and security investments were EUR 16.2 billion at the end of the third quarter of 2026.
  • Full-year 2026 Revenue guidance was updated to EUR 1.7 billion to EUR 1.9 billion, with the midpoint raised.

Financial Results

BioNTech SE (NASDAQ:BNTX) held its third quarter 2026 earnings call, with all figures stated in euros unless otherwise noted. The Chief Financial Officer reported revenues of EUR 1.3 billion for the third quarter, compared with EUR 1.5 billion in the prior-year third quarter. The company attributed the decline mainly to lower market Demand for its COVID-19 vaccine. Revenues of EUR 613 million were recognized in the quarter from the global strategic Partnership with BMS covering pumitamig, a next-generation bispecific antibody candidate.

Adjusted R&D expenses were EUR 579 million versus EUR 479 million, reflecting greater Investment in prioritized immuno-oncology and antibody-drug conjugate programs, partially offset by lower spending outside the strategic focus. On an IFRS basis, R&D expenses were EUR 748 million, with the additional EUR 169 million including Impairment losses on intangible assets outside the strategic focus. Adjusted and IFRS SG&A expenses were both EUR 179 million versus EUR 149 million.

For the nine months, revenues were EUR 1.5 billion versus EUR 2 billion, adjusted R&D expenses were EUR 1.6 billion versus EUR 1.5 billion, and adjusted SG&A expenses were EUR 527 million versus EUR 407 million.

Guidance and Capital Allocation

The company raised the midpoint of its full-year 2026 revenue guidance, which is now EUR 1.7 billion to EUR 1.9 billion. Adjusted R&D guidance remains EUR 2 billion to EUR 2.3 billion, and adjusted SG&A guidance remains EUR 700 million to EUR 800 million.

Cash equivalents and security investments were EUR 16.2 billion at the end of the third quarter. The share buyback program was implemented in June. The company recently divested its JPT Peptide Technologies business, continues Manufacturing footprint consolidation, and plans to integrate its AI Subsidiary InstaDeep into BioNTech's core business.

BioNTech exercised an option in its collaboration with Roche and Genentech under which future R&D costs for its individualized mRNA cancer immunotherapy program are reassigned to Roche and Genentech, and BioNTech is eligible to receive royalties. The Phase II trial in adjuvant pancreatic cancer continues.

Pipeline Update

Chief Executive Officer Uğur Şahin said updated overall survival data for gotistobart in squamous non-small cell lung cancer were presented at the World Conference on Lung Cancer. With a median follow-up of 25.4 months, median overall survival was 18.5 months versus 10 months with docetaxel, with a hazard ratio of 0.56, and the pivotal stage of the Phase III trial is ongoing.

The company entered a clinical trial collaboration with Gilead to evaluate pumitamig with a TROP2-directed antibody-drug conjugate as first-line treatment in metastatic triple-negative breast cancer. In small cell lung cancer, the pumitamig plus Alpha-D combination showed a 92% overall response rate in first line among 71 patients across four dose levels.

Items to Follow

Investors can follow the interim analysis of the pivotal gotistobart trial that management anticipates before year-end, and Phase III planning for pumitamig combinations, with first lung cancer combination trials beginning in 2027.

Management also pointed to the Leadership transition: Guido Oelkers is scheduled to take office as Chief Executive Officer by February 1 at the latest, and Uğur Şahin said this was his last earnings call.