Oncology Pivot

BioNTech SE’s shares hovered at $118.00 on January 26, giving the company a trailing P/E of 166.87 and a forward P/E of 7.04. Management signals 2026 will be a transitional year, with a subdued revenue outlook but a potentially pivotal moment for the oncology franchise. The firm holds roughly $17 billion in cash, allowing it to pursue pipeline development without financial strain. Covid‑related revenue is expected to decline modestly, while oncology is not projected to contribute meaningfully this year. However, several late‑stage oncology trials are poised for readouts across multiple cancer types, and regulatory filings are underway for select assets. Positive phase III results will be central to BioNTech’s next phase, offering the chance to shift the company’s narrative from a Covid‑era specialist to a multi‑asset oncology player.