BioNTech SE (BNTX): A Bull Case Theory 

We came across a bullish thesis on BioNTech SE on Lux Opes Research’s Substack. In this article, we will summarize the bulls’ thesis on BNTX. BioNTech SE’s share was trading at $118.00 as of January 26th. BNTX’s trailing and forward P/E were 166.87 and 7.04 respectively according to Yahoo Finance.

BioNTech SE, a biotechnology company, develops and commercializes immunotherapies to treat cancer and infectious diseases in Germany. BNTX is entering 2026 as a transitional year, with a quiet revenue outlook but a potentially defining inflection in its oncology franchise. The company enters the year with substantial cash reserves of approximately $17 billion, providing strategic flexibility and the ability to fund pipeline development without financial strain.

Management expects Covid-related revenues to decline modestly, reflecting changes in vaccination recommendations in the U.S. and a shift from government procurement to private-market supply, while no meaningful revenue contribution is anticipated from oncology this year. Cash inflows from partnerships, including the Bristol Myers Squibb collaboration, are expected to remain stable, and cost trends were not updated, reinforcing that 2026 will likely be uneventful on the top-line but financially secure.

Where BioNTech’s story diverges is its clinical agenda. The company anticipates one of its most data-rich years, with multiple late-stage oncology readouts across breast, lung, colorectal, and head-and-neck cancers. Several programs are in phase III development, targeting large, competitive indications, and regulatory filings are in preparation for select assets, signaling readiness for potential commercialisation. The breadth and timing of these trials represent multiple “shots on goal” that could transform the market’s perception of BioNTech from a Covid-era specialist to a multi-asset oncology player.

Management has deliberately lowered short-term financial expectations to focus on clinical execution, emphasizing that upcoming phase III results are central to the company’s next act. Positive outcomes could materially shift BioNTech’s narrative and establish a sustainable growth trajectory beyond Covid, while setbacks would still leave the company with a strong balance sheet and strategic optionality, underscoring its resilience and long-term potential in the oncology space.

Previously, we covered a bullish thesis on Moderna, Inc. (MRNA) by YouAlwaysHaveAChoice in February 2025, which highlighted upside from emerging infectious disease risks, institutional accumulation, and strong technical signals. MRNA’s stock price has appreciated by 44.20% since our coverage. YouAlwaysHaveAChoice shares an identical perspective but emphasizes institutional positioning and technical momentum.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy NOW 

Disclosure: None.