Financial Data and Key Metrics Changes - Total revenues for 2025 were EUR 2.9 billion, a slight increase from the prior year despite a decrease in COVID-19 vaccine revenues [27] - The company ended 2025 with EUR 17.2 billion in cash equivalents and security investments, positioning it strongly for future investments [28] - Adjusted non-IFRS net loss for 2025 was EUR 117 million [29] Business Line Data and Key Metrics Changes - The company maintained over 50% market share in major markets for its COVID vaccine, distributed in over 180 countries [6] - R&D expenses were approximately EUR 2.1 billion, slightly decreased from the prior year, aided by cost savings from active portfolio management [27] - The oncology programs advanced significantly, with over 4,000 patients enrolled across phase 2 and phase 3 studies [6][8] Market Data and Key Metrics Changes - The company anticipates lower COVID-19 vaccine revenues in 2026 due to declining demand in both the U.S. and European markets [30][31] - The U.S. market is expected to be particularly competitive, impacting revenue generation [30] Company Strategy and Development Direction - The company aims to transition to a tumor-centric clinical development program focused on high-incidence cancers, including lung and breast cancer [8] - A new independent company will be established to pursue next-generation mRNA innovations, with BioNTech retaining a minority stake [10][11] - The strategic focus will remain on late-stage oncology assets and combination therapies to maximize value [11][33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to execute its strategy and achieve significant clinical data output from 2026 to 2029 [33] - The transition to a new leadership structure is planned for the end of 2026, aligning with key milestones and data readouts [49][50] Other Important Information - The company has established a partnership with BMS to strengthen its oncology programs and de-risk its pumitamig initiatives [6][8] - The company is preparing for multiple late-stage data readouts in 2026, which are expected to inform pivotal trials [8][25] Q&A Session Summary Question: How will the mRNA therapeutics be split between BioNTech and the new company? - Management confirmed that all current mRNA capabilities will remain with BioNTech, while the new company will focus on next-generation innovations [37][40] Question: What is the profile for the new CEO search? - The supervisory board is looking for leaders with strong experience in late-stage development and commercial execution [44][46] Question: Why is the leadership transition happening now? - The transition is planned for the end of 2026, coinciding with significant data readouts and the need for industrialization [49][50] Question: Will BioNTech contribute capital to the new company? - BioNTech will not contribute cash but will transfer certain rights and mRNA technologies [54][55] Question: What are the expectations for COVID-19 vaccine revenues in 2026? - Lower revenues are anticipated due to market normalization and seasonal demand [95][96]

Financial Data and Key Metrics Changes - Total revenues for 2025 were EUR 2.9 billion, a slight increase from the prior year despite a decrease in COVID-19 vaccine revenues [26] - The company ended 2025 with EUR 17.2 billion in cash equivalents and securities, positioning itself strongly for future investments [27] - Adjusted non-IFRS net loss for 2025 was EUR 117 million, reflecting the impact of various expenses [28] Business Line Data and Key Metrics Changes - The company maintained over 50% market share in the COVID vaccine market, distributing its vaccine in over 180 countries [5] - Revenue from the BMS collaboration contributed EUR 613 million, offsetting declines in COVID-19 vaccine revenues [26] - R&D expenses were approximately EUR 2.1 billion, slightly decreasing from the prior year due to cost savings and collaboration benefits [26] Market Data and Key Metrics Changes - The company anticipates lower COVID-19 vaccine revenues in 2026, particularly in the U.S. and Europe, as the market normalizes [30] - The U.S. market is expected to be competitive, leading to lower revenues, while Germany's direct sales will significantly impact overall top line [30][96] Company Strategy and Development Direction - The company aims to accelerate late-stage development of oncology assets and focus on combination-based approaches [6] - A new independent company will be established to pursue next-generation mRNA innovations, allowing BioNTech to sharpen its strategic focus on its late-stage pipeline [9][10] - The company plans to transition from a platform-centric to a tumor-centric clinical development program, targeting high-incidence cancers [6] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong financial position and disciplined resource allocation, focusing on late-stage programs [6][27] - The company expects a sustained cadence of late-stage readouts from 2026 to 2030, with multiple pivotal trials planned [8] - Management emphasized the importance of maintaining a strong balance sheet while advancing key programs [33] Other Important Information - The company is transitioning leadership, with Ugur Sahin and Özlem Türeci remaining through the transition period [44] - The company is preparing for potential launches in oncology, including endometrial cancer, while building commercial capabilities [44] Q&A Session Summary Question: How will the mRNA therapeutics be split between BioNTech and the new company? - Management confirmed that all current mRNA capabilities will remain with BioNTech, while the new company will focus on next-generation innovations [36][39] Question: What is the profile for the new CEO? - The supervisory board is looking for leaders with strong experience in late-stage development and commercial execution [42][44] Question: Why is the leadership transition happening now? - The transition is planned for the end of 2026, aligning with key milestones and data readouts [46][47] Question: Will BioNTech contribute capital to the new company? - BioNTech will not contribute cash but will provide certain rights and mRNA technologies [51][53] Question: What are the expectations for COVID-19 vaccine revenues in 2026? - Lower revenues are anticipated due to market normalization, particularly in the U.S. and Europe [30][96]