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BioNTech (BNTX) investor relations material
BioNTech Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Advanced late-stage oncology pipeline with multiple registrational trials for pumitamig in lung, breast, colorectal, and gastric cancers, aiming for first launches before decade's end and expanded combination approaches.
Expanded clinical programs for mRNA cancer immunotherapies, including FixVac and iNeST, with recent Phase 2 updates guiding development focus and mixed results in melanoma and NSCLC.
Launched a variant-adapted COVID-19 vaccine in major markets for the 2025/2026 season, maintaining commercial leadership and stable market share.
Maintained a strong financial position with €16.7 billion in cash, cash equivalents, and securities, supported by a $1.5 billion upfront payment from the BMS partnership.
Financial highlights
Q3 2025 revenues reached €1,519 million, up from €1,245 million year-over-year, mainly due to $700 million recognized from the BMS collaboration.
Q3 2025 net loss was €29 million, compared to net income of €198 million in Q3 2024, primarily due to a contractual dispute settlement.
R&D expenses for Q3 2025 were €565 million, slightly up year-over-year; nine-month R&D expenses were €1,600 million.
Basic and diluted loss per share for Q3 2025 was €0.12, compared to €0.82 and €0.81 in Q3 2024.
Cash and securities totaled €16.7 billion as of September 30, 2025.
Outlook and guidance
Full-year 2025 revenue guidance raised to €2.6–2.8 billion, up from previous €1.7–2.2 billion, reflecting BMS collaboration revenue.
R&D expense guidance lowered to €2.0–2.2 billion, SG&A to €550–650 million, and capital expenditures to €200–250 million.
No positive net income expected for full-year 2025 as investments continue in oncology transition.
Guidance assumes stable COVID-19 vaccine pricing and market share, with inventory write-downs estimated at 15% of gross profit from vaccine sales in Pfizer's territory.
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