BioNTech's Founders Chart a New Course as the Company Pushes Toward Its First Oncology Approval

BioNTech restructures, targets first oncology approval with Trastuzumab Pamirtecan; HSBC and RBC increase stakes.

The clock is ticking on a corporate restructuring that will reshape BioNTech’s identity. By June 30, binding contracts for the spinoff of its mRNA platform must be signed, after which the company’s co-founders, Ugur Sahin and Özlem Türeci, will transfer to the new entity by the end of 2026. The board has already launched a search for successors, and BioNTech will retain a minority stake plus future milestone payments and royalties from the spun-off technology. The details of the ongoing relationship between the two companies are expected to be released once the deal is finalized.

While the leadership transition unfolds, BioNTech is doubling down on its oncology pipeline. The most concrete near-term catalyst is the planned Biologics License Application with the U.S. FDA for Trastuzumab Pamirtecan, an antibody-drug conjugate developed with DualityBio. The drug, which targets advanced endometrial cancer, already holds Fast Track and Breakthrough Therapy designations. Phase 2 data from a cohort of 145 patients showed a confirmed objective response rate of 47.9%, climbing to 73.1% in those with the highest HER2 expression. Median progression-free survival clocked in at 8.1 months. China’s NMPA has already accepted the corresponding submission for review.

The push for a first oncologic approval is part of a broader ambition. BioNTech plans to have 15 ongoing or planned Phase 3 studies by the end of 2026, including six new trials to be initiated this year. At the ASCO meeting in Chicago, Pumitamig in combination with chemotherapy showed activity in non-small cell lung cancer — the third global data signal for that asset, following earlier results in small cell lung cancer and triple-negative breast cancer. Separately, Gotistobart combined with pembrolizumab delivered durable responses in platinum-resistant ovarian cancer.

Institutional investors are taking notice. HSBC Holdings acquired roughly 52,000 BioNTech shares worth nearly $5 million at the end of June, while the Royal Bank of Canada nearly doubled its stake. The buying coincides with a UBS upgrade to "Buy" and a price target of $135, driven by growing confidence in the company’s strategy of pairing mRNA immunotherapies with ADCs to attack high-need tumor types.

Financially, BioNTech remains well-cushioned despite the heavy spending. The company reported a first-quarter net loss of €531.9 million on revenue of €118.1 million, down from €182.8 million a year ago as COVID-19 vaccine sales continued to fade. For full-year 2026, management expects top-line revenue between €2.0 billion and €2.3 billion, with adjusted R&D costs of €2.2 billion to €2.5 billion. No oncology product will contribute revenue this year, making the €16.8 billion cash and securities pile the critical buffer. The next quarterly update is due on August 4.

The stock traded at €79.85, roughly 25% below its January high of €105.80 but up nearly 17% from the March trough of €68.35. The relative strength index of 53.9 sits in neutral territory, and the shares are just under the 50-day moving average of €80.81. The second half of 2026 is packed with catalysts: the company has flagged six planned data presentations from its oncology portfolio, while seven late-stage readouts are expected overall. How well the ADC candidate performs as a potential revenue driver will likely determine whether the market re-rates the stock — and whether the spinoff’s leadership vacuum proves a distraction or an opportunity.