BioNTech

Note: This is a daily stock update and the information stands true as of 03/06/25, 09:00 CET.

Company Update:
BioNTech has entered into a co-development and co-commercialisation agreement with Bristol Myers Squibb. BioNTech will receive up to $11bn from the agreement, comprising $1.5bn in upfront payments and an additional $2bn in anniversary payments through 2028. The company is also eligible for an additional $7.6bn in development, regulatory, and commercial milestone payments.
BioNTech is replicating its vaccine development strategy by seeking support for approval and marketing in this new indication. This approach allows BioNTech to reduce development costs and risks, although it sacrifices full sales rights, which are not fully utilizable. The advantage lies in potentially shorter development times and a quicker market entry amid increasing competition.
We have adjuested our numbers up, significantly the loss expected in 2025 and 2026. We have also adjusted our target price marginally up to $139 leaving 23% upside. 

Expert Opinion: 
This is good news as it lowers the risk on the company. Our expert doesn't have any strong opinion on the name. Our analyst sees potential and has a targett with 23% upside. The expert still a bit hesitant about losses forecast over the next three years. Please contact our sales team if you want to discuss the case with any of our analysts within the pharma team. 


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