BioNTech NASDAQ: BNTX used its virtual annual general meeting to outline a transition year marked by leadership changes, continued investment in oncology, a planned share repurchase program and a restructuring of its manufacturing network.
Chairman of the Supervisory Board Helmut Jeggle said the 2025 fiscal year was “a successful one” for the company, citing progress toward BioNTech’s goal of becoming a multi-product company by 2030. He said the company ended 2025 with cash and marketable securities totaling EUR 17.2 billion, giving it “substantial resources” for its next phase of development.
Management Highlights Oncology Pipeline and BMS Partnership
Chief Executive Officer Professor Dr. Ugur Sahin, delivering what he described as his final annual general meeting address as CEO, said BioNTech’s strategy remains focused on two pillars: maintaining its COVID-19 vaccine business with partner Pfizer and using proceeds to advance a diversified development pipeline, particularly in oncology.
Sahin said BioNTech and Pfizer have delivered more than 5 billion COVID-19 vaccine doses worldwide since 2020. He added that BioNTech’s vaccine is distributed in more than 180 countries and regions and has a market share of more than 50% in key markets.
In oncology, Sahin said BioNTech has more than 25 ongoing Phase 2 and Phase 3 studies, 17 clinical programs and a clinical evidence base that includes more than 4,000 patients. He said the company expects several data updates from key late-stage studies in 2026.
Sahin highlighted pumitamig, BioNTech’s next-generation bispecific immunomodulator, as the company’s “flagship program.” He said the candidate has shown anti-tumor activity across a broad range of cancers based on clinical data to date and may have potential as a combination partner with other agents.
BioNTech completed the acquisition of Biotheus in early 2025, bringing pumitamig fully into its pipeline, and in June 2025 entered into a global 50/50 development and commercialization collaboration with Bristol Myers Squibb. Sahin said the agreement includes a $1.5 billion upfront payment, $2 billion in additional unconditional payments and up to $7.6 billion in milestone payments.
Financial Outlook and Buyback Plan
Chief Financial Officer Ramón Zapata said 2025 was a strong year for BioNTech, with total revenue of EUR 2.9 billion, slightly higher than the prior year despite lower COVID-19 vaccine revenue. The decline in vaccine revenue was partly offset by EUR 613 million recognized from the BMS collaboration.
Research and development expenses were about EUR 2.1 billion in 2025, slightly below the prior year, which Zapata attributed to portfolio management and cost sharing with BMS. For the first quarter of 2026, BioNTech reported revenue of EUR 118 million, compared with EUR 183 million a year earlier, reflecting lower COVID-19 vaccine demand. R&D expenses rose to EUR 557 million from EUR 526 million, while SG&A expenses increased to EUR 151 million from EUR 121 million.
BioNTech reaffirmed its 2026 guidance, expecting total revenue of EUR 2.0 billion to EUR 2.3 billion, adjusted R&D expenses of EUR 2.2 billion to EUR 2.5 billion and adjusted SG&A expenses of EUR 700 million to EUR 800 million.
Zapata also announced a share repurchase program of American Depositary Shares of up to $1 billion over the next 12 months. He said the program reflects “confidence in our science, capital management discipline, and a commitment to delivering long-term value for our shareholders.”
Manufacturing Consolidation to Affect About 1,800 Employees
BioNTech executives also addressed the company’s planned manufacturing consolidation. Zapata said BioNTech identified sites where capacity is expected to become significantly underutilized or idle over the next 24 months and decided to exit operations at sites in Idar-Oberstein, Marburg and Singapore, as well as CureVac sites.
The decision affects approximately 1,800 colleagues, Zapata said. He added that BioNTech is exploring divestment options, including partial or full sales of the sites, and expects recurring annual savings could reach about EUR 500 million by 2029, excluding exit costs.
Sahin said the decisions were made “with a heavy heart” and after careful analysis. He said the company intends to seek socially responsible solutions for affected employees and is working with policymakers, scientific institutions and regional partners.
Zapata said commercial and clinical drug supply will not be affected. Future clinical manufacturing for mRNA-based candidates will be covered by BioNTech’s broader network, including Mainz, while commercial COVID-19 vaccine production will be handled by Pfizer from the end of 2026.
Leadership Changes and New Company Plans
Jeggle said Jens Holstein retired as planned as chief financial officer on June 30, 2025, and was succeeded by Zapata on July 1. Ryan Richardson, former chief strategy officer, stepped down from the Management Board by mutual agreement effective Sept. 30, 2025. The Supervisory Board also extended the appointment of Chief Operating Officer Sierk Pötting through Dec. 31, 2027.
Kylie Jimenez, appointed chief human resources officer effective March 1, 2026, told shareholders that her role is to help BioNTech’s organization, leadership and talent evolve with its strategy as it builds toward becoming a global multi-product commercial biotechnology company.
Jeggle also addressed the previously announced departures of Sahin and Chief Medical Officer Professor Dr. Özlem Türeci, who are set to leave BioNTech at the end of the year after founding and building the company over 18 years. He said they plan to focus on a new company dedicated to next-generation mRNA candidates. In response to submitted shareholder questions, Jeggle said BioNTech’s intellectual property rights, including patents, trademarks and technology platforms, are assets of the BioNTech Group and do not belong personally to the co-founders.
Shareholders Approve AGM Resolutions
Shareholders representing 92% of BioNTech’s registered share capital were present or represented at the meeting. No live shareholder questions were submitted during the general debate.
All management and Supervisory Board proposals on the agenda were approved by the required majorities. These included carrying forward the 2025 balance sheet profit, approving the compensation report, expanding the Supervisory Board from six to eight members, electing Supervisory Board members, renewing authorization for virtual annual general meetings, creating a new authorized capital 2026 and approving a domination and profit and loss transfer agreement between BioNTech SE and BioNTech Discovery GmbH.
About BioNTech NASDAQ: BNTX
BioNTech SE NASDAQ: BNTX is a Germany-based biotechnology company that develops next-generation immunotherapies and vaccines, with a primary focus on messenger RNA (mRNA) technology. Founded in 2008 and headquartered in Mainz, BioNTech advances a platform approach to design and manufacture therapeutics across oncology, infectious diseases and other high unmet-need areas. The company is publicly traded on the NASDAQ exchange and became widely known for its rapid development and global deployment of an mRNA-based COVID-19 vaccine in collaboration with Pfizer.
BioNTech's core activities include discovery research, clinical development and manufacturing of mRNA-based medicines, personalized cancer immunotherapies, engineered cell therapies, and antibody- and protein-based therapeutics.
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