BioNTech Announces Job Cuts Following Major Financial Losses

The company cites declining COVID-19 vaccine sales and high research costs as it shifts focus toward mRNA-based cancer treatments.

BioNTech reported a net loss of approximately €700 million for 2024, following a sharp decline in COVID-19 vaccine revenue.
The company plans to cut jobs at two German sites: about 50% of positions in Marburg and 33% in Idar-Oberstein, while maintaining staffing levels at its Mainz headquarters.
Revenue dropped from €3.8 billion in 2023 to €2.75 billion in 2024, with further declines projected for 2025, despite ongoing high research and development expenses.
BioNTech is investing heavily in mRNA-based cancer therapies, with significant progress reported in treatments for bladder and colorectal cancers.
The company aims for its first cancer drug approval in 2026, though this timeline remains subject to clinical trial outcomes and regulatory review.