BioNTech provides strategic priorities and company update

BioNTech (BNTX) provided its FY24 revenue guidance as part of its outlined 2024 strategic priorities. Projects company revenues of approximately EUR3B for FY24, mainly driven by the COVID-19 vaccine franchise which is expected to remain profitable given the company’s cost sharing structure with its partner Pfizer (PFE). BioNTech ended 2023 with approximately EUR 17.5B in cash, cash equivalents and security investments. The company plans to maintain a strong financial position and generate significant interest income in 2024. BioNTech expects to grow its topline again in 2025. In the outer years, the company projects revenues derived from both oncology and respiratory combination vaccine launches, which are subject to successful development and regulatory approval. Plans to have ten or more potentially registrational trials by the end of 2024 and is preparing to be commercial-ready by the end of 2025. BNT162b2 + BNT161 is an mRNA-based combination vaccine program against COVID-19 and influenza being developed in collaboration with Pfizer. Topline data from the Phase 1/2 trial demonstrated robust immune responses to influenza A, influenza B, and SARS-CoV-2 strains and that the safety profile of the candidates was consistent with the companies’ COVID-19 vaccine. In oncology, the Company’s pipeline continued to mature in 2023 with various programs advancing towards later stages of development. BioNTech’s pipeline currently contains 11 ongoing Phase 2 and 3 trials. In 2024, BioNTech intends to accelerate the development of its portfolio of next-generation investigational medicines both as monotherapies and in combination with immunotherapy agents and other targeted therapies across a wide range of tumor types. BioNTech believes it is well positioned to have ten or more potentially registrational trials in areas of unmet medical need by the end of 2024 in advance of launching its first oncology products from 2026 onwards.