📉 BioNTech cuts 90 US jobs

BioNTech will reduce its workforce by 90 employees across its Cambridge and Gaithersburg sites in the US, focusing on R&D and corporate roles.

Why it matters to oncology: These layoffs are part of BioNTech's strategic realignment to enhance efficiency and focus resources on high-priority oncology projects.

• Despite the cuts, BioNTech remains committed to its oncology pipeline, including mRNA cancer immunotherapies and the promising BNT327 antibody.

The financials: BioNTech's R&D investment is set between $2.6 billion and $2.8 billion for 2025, highlighting its dedication to innovation despite workforce reductions.

• The company's second-quarter sales more than doubled, reaching €260.8 million, driven by renewed COVID-19 vaccine demand.

What they're saying: "We actively manage our pipeline and assess our sites for strategic alignment," stated a BioNTech spokesperson.

• This approach aims to create sustainable value and optimize operational capacities.

What's next: BioNTech plans to continue scaling its business for commercial readiness in key markets, with ongoing investments in high-value oncology assets.

• The partnership with Bristol Myers Squibb on BNT327 is valued at over $11 billion, underscoring potential market impact.