BioNTech Shares Hit by Dual Setbacks

BioNTech founders to leave, launching new mRNA firm. 2026 revenue forecast misses estimates as Covid vaccine sales fade, shifting focus to oncology pipeline.

The stock of German biotech firm BioNTech plunged to a fresh 52-week low this week following a one-two punch of negative developments. On Tuesday, the company issued a revenue forecast for 2026 that fell well short of market expectations. Simultaneously, it announced the impending departure of its visionary founders, Ugur Sahin and Özlem Türeci, who plan to launch a new mRNA-focused venture.

Founders Depart to Pursue New mRNA Venture

Ugur Sahin and Özlem Türeci, the husband-and-wife team who spearheaded the development of BioNTech's successful Covid-19 vaccine, will exit the company upon the expiration of their contracts by the end of 2026. Their new enterprise will be dedicated to advancing mRNA technology—the very platform that propelled BioNTech to global prominence.

As part of the transition, BioNTech will transfer certain rights and mRNA technologies to the new company. In return, BioNTech will receive a minority equity stake, along with potential milestone payments and royalties. Binding agreements are slated to be finalized by the end of the first half of 2026. Sahin and Türeci will retain an approximate 15% stake in BioNTech. The company's supervisory board has already initiated a search for their successors.

Revenue Guidance Disappoints Investors

Compounding the leadership news was a disappointing financial outlook. BioNTech provided 2026 revenue guidance in a range of €2.0 billion to €2.3 billion. This projection significantly undershot the market consensus estimate, which stood at around €2.9 billion. The company attributed the anticipated decline to the ongoing normalization of its Covid-19 vaccine business, which is expected to contribute a diminishing portion of future revenue.

For the full 2025 fiscal year, BioNTech reported revenues of €2.9 billion. The firm maintains a robust liquidity position of €17.2 billion, a war chest it will need. Research and development expenditures for 2026 are projected to be between €2.2 billion and €2.5 billion as the company's oncology pipeline enters a critical phase.

Oncology Pipeline Bears the Weight of Future Growth

With its Covid-related windfall receding, BioNTech is channeling its resources and hopes into its cancer therapy portfolio. The company aims to have 15 ongoing Phase 3 trials in oncology active by the end of 2026. Key candidates include the bispecific antibody BNT327, which is being studied for indications such as small cell lung cancer and triple-negative breast cancer.

A major partnership sealed with Bristol Myers Squibb in 2025, featuring a $1.5 billion upfront payment, has secured the funding for these extensive clinical programs. The central question for investors is whether these oncology assets can generate results swiftly enough to offset the declining Covid-19 revenue.

The market's verdict on BioNTech's strategic pivot will likely hinge on upcoming clinical data. Initial pivotal readouts from these studies are expected later this year and will be closely watched for signs of success.