BioNTech: From COVID vaccine pioneer to uncertain future

BioNTech, the German biotech firm that developed the first approved mRNA COVID-19 vaccine, is facing serious financial difficulties.
The company announced the closure of production sites in Germany and Singapore and the elimination of about 1,860 jobs after a net loss of €532 million in the first quarter of 2026.
Revenue from the Comirnaty vaccine fell to €118 million in Q1 2026, down 35% from the same quarter last year.
BioNTech will shift all COVID vaccine manufacturing to its partner Pfizer.
The company faces criticism over its $1.25 billion acquisition of rival CureVac in December 2025, which ended patent disputes.
Analysts warn that BioNTech relied on a single blockbuster product and built too much production capacity during the pandemic.