BioNTech cuts 1,860 jobs, shifts focus to oncology pipeline

German biotech company BioNTech announced a major restructuring, planning to close production sites in Idar‑Oberstein, Marburg, Tübingen and Singapore and eliminate up to 1,860 positions. The moves aim to scale down the pandemic‑era vaccine capacity and redirect resources to its oncology business.

The firm retains a strong cash position with about €16.8 billion in liquid assets and has set a revenue target of €2.0‑€2.3 billion for 2026. Its oncology pipeline includes more than 25 clinical studies, nine of which are in Phase III. Key candidates are the antibody‑drug conjugate Trastuzumab Pamirtecan (BNT323), slated for an FDA filing in 2026, and the bispecific antibody Pumitamig (BNT327), developed with Bristol Myers Squibb and already granted Fast Track and Breakthrough Therapy designations.

Investor Cathie Wood’s ARK Genomic Revolution ETF sold roughly 78,000 BioNTech shares worth about $7.4 million in early July, citing the recent patent‑court ruling in BioNTech’s favor but taking profit after the news. The stock has been volatile, trading around €80 per share while the market watches for data from the upcoming Phase III trials.