Berlin:German biotechnology company BioNTech announced a net profit of £184.5 million ($206.5 million) for the third quarter, reversing a loss from the same period last year. The company also adjusted its 2026 revenue forecast, raising the lower end.

According to Anadolu Agency – English, BioNTech's previous third-quarter figures showed a net loss of £28.7 million. The company now projects full-year revenue between £1.7 billion and £1.9 billion, an increase from the earlier forecast's lower bound of £1.6 billion.

Despite a 15.1% year-on-year decline in revenue to £1.29 billion, attributed to decreased global demand for COVID-19 vaccines, BioNTech managed to return to profitability partly due to lower legal expenses. Other operating expenses fell to £163.6 million from £729.5 million last year, which had included significant one-time legal charges.

BioNTech reported diluted earnings of £0.73 per share, compared with a loss of £0.12 per share in the previous year. Operating profit reached £125 million, overturning an operating loss of £46.9 million from a year earlier.

Research and development spending saw an increase of 32.5% to £748.1 million as BioNTech pushed forward with its cancer treatment trials. The company aims to diversify its portfolio by bringing several oncology products to market by 2030, reducing its reliance on COVID-19 vaccines.

However, BioNTech reported a wider net loss of £1.17 billion for the first nine months of 2026, compared to £831.1 million in the same period last year, with revenue falling to £1.51 billion from £1.96 billion.