BioNTech share friendly: losses further contained – money from Bristol Myers Squibb

As a result, the Mainz company was able to reduce its net loss in the third quarter: it amounted to 28.7 million euros after 198.1 million in the same quarter of the previous year, as BioNTech announced.

According to the company, there was a loss of 831.1 million euros in the first nine months of the financial year (previous year: 924.8 million). In view of continued high expenses, BioNTech is also assuming a loss for the year as a whole. A first cancer approval application could then be submitted in 2026, which would be an important step towards the first oncological product on the market.

Less revenue from Covid-19 vaccine

Sales climbed to 1.52 billion euros in the third quarter, mainly thanks to payments from BMS (same period last year: 1.24 billion) – with falling income from the Covid-19 vaccine. BioNTech also expects more revenue for the entire financial year and is now assuming 2.6 to 2.8 billion euros instead of the previous 1.7 to 2.2 billion euros.

BioNTech aims to use the proceeds to advance late-stage clinical trials for several potential cancer drugs. The focus is, among other things, on an active ingredient candidate called Pumitamig, formerly BNT327. This is exactly why BioNTech and BMS agreed on joint global development and commercialization, for which the Americans transferred 1.5 billion US dollars in the third quarter, with billions more to follow in the coming years.

In the third quarter alone, BioNTech spent almost 565 million euros on research and development, after 550 million in the same quarter of the previous year. For the year as a whole, spending is expected to be between 2.0 and 2.2 billion. At an earlier point in time, the Mainz company had assumed up to 2.8 billion euros.

Approvals sought for oncological preparations

The aim of the company, which so far only has one product on the market, the corona vaccine, is to get approval for oncological preparations in the foreseeable future. Roughly speaking, it is built on three pillars: In addition to Plumitamig, these are mRNA-based immunotherapies and antibody-drug conjugates. The aim is to deliver chemotherapy active ingredients more specifically to cancer cells with the help of antibodies.

BioNTech wants to submit an application for approval in the USA for such a next-generation chemotherapy against uterine cancer. Discussions have begun with the US Food and Drug Administration (FDA). Depending on the outcome, this could result in an application for approval next year. Data from a study are expected in 2026 for the treatment of breast cancer with an antibody-drug conjugate.

Company CEO and co-founder Ugur Sahin said significant progress was made in implementing the oncology strategy in the third quarter.

In NASDAQ trading, BioNTech shares temporarily gained 0.26 percent to $104.18.

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