BioNTech (NASDAQ:BNTX), the biotechnology firm that rose to global prominence with its COVID-19 vaccine, reported full-year 2025 revenues of €2.87 billion on Tuesday.
The company posted an IFRS net loss of €1.14 billion for the year, though its adjusted net loss was significantly narrower at €117.1 million, reflecting a period of heavy reinvestment into its next-generation cancer pipeline.
Despite the transition from pandemic-era windfalls, BioNTech remains one of the most well-capitalized firms in the sector, reporting €17.24 billion in cash, cash equivalents, and investments as of December 31, 2025.
This formidable "war chest" is being deployed toward a massive research and development push.
The company has issued 2026 guidance for adjusted R&D spending between €2.2 billion and €2.5 billion.
In a landmark corporate update, BioNTech announced that its co-founders—Ugur Sahin and Özlem Türeci—will form a separate, independent mRNA company.
A structured management transition is expected to be completed by the end of 2026.
The move signals a maturation of BioNTech's core business as it shifts focus toward commercializing its oncology portfolio.
For the coming year, BioNTech projects total revenues in the range of €2 billion to €2.3 billion.
Adjusted SG&A expenses are forecasted at €700 million to €800 million.