BNTX - Earnings call transcript Q1 2024

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Operator

Welcome to BioNTech's First Quarter 2024 Earnings Call. I would like to hand the call over to Dr. Victoria Meissner, Vice President of Strategy and Investor Relations. Please go ahead.

Victoria Meissner

Good morning and good afternoon. BioNTech's XXXX joining Call. for you First Earnings Quarter Thank

be be slides this release As Investor can the our will section published in using of Relations morning. press a reminder, corresponding we on website. the the call this found and

next see our slide, disclaimer. forward-looking will you the statements On

Additional and described Exchange our information and with filings are these risks statements Commission. the about other in U.S. Securities

BioNTech's We and this of X, uncertainties agenda are these Chief significant no call. Officer. With this, and this by I Ryan Today, of and in Medical over subject Sahin, team. of Strategy call Officer Ugur today's Officer Financial Richardson, statements [ for update risks Chief like Tureci would joined Forward-looking to of you to date [indiscernible] Chief Torstein the conference Ian Officer; any the or undertake obligation Ugur. Chief following to Co-Founder; the and ], management hand call. am can to revise find and members Slide I Executive Co-Founder; statements. On Ozlem

Ugur Sahin

welcome to all entering We are we for warm transformational us joining period that a believe BioNTech. today. those A

bring late-stage forecasting clinical immune We this in oncology our with candidates become to [ develop scientific early tire platforms, the to BioNTech and effectiveness first discover company The be is to ties. fight safety late-stage to clinical candidate and following have ] into delivered the period to to patients. In development of about multiproduct drug a harness various diseases hires now pipeline. registrational we from with founded growth XXXX, by point the and to developed various the vision new and years establishment medicines system our demonstrate the

low oncology HR-positive to [indiscernible] pivotal our our In patient on HERXX in with the continuing [ first in BNTXXX AACR ] pipeline this intense late-stage multiple breast we data encouraging Phase autogenerain induce presented with we follow-up quarter, ] pancreatic that strategic correlate annual cancer. At vaccine X-year promise from meeting, are improvements to lapse novo evaluating our metastatic III persisting the focus. demonstrating priorities This immunogenic progressed We responses certain response showed fronts. the neoantigen-specific HERX and our execute the dosed We vaccine, clinical the cancer. first survival T in its our vision in platform of clinical patients trial with vaccine, [ evaluating the to the cell survival. a data

for in is strategy. an commercialization with our have appointed AnnavaHeinekan global U.S. We our July in We team ], Manager global our leader first commercial oncology. appointed expertise operations the steps drive commercial in we has in joining the building out who further our accomplished our and to also in General record track team. remarkable significant [ a execute U.S., taken launches a commenced and

we vaccine variant COVID-XX COVID-XX to preparations for the on vaccine introduce our franchise, track adapted season. For be to initiated a new upcoming

strategy, our European this strain received have while We SMI approval corporate ] updates oncology Jens on focus month. Today, recommendations progress. and submit preliminary financial a to [ regulatory Ryan the for World provide Agency organization Medians and Health and Slide later our and will X. from on plan selection

have driven this long-term is in is but remission cure. not heterogeneous of challenges many are consequence substantial an understanding associated and Our key One effect by by is mutations. genetically portfolio cancer. Cancer with initial of diverse driven oncology the acquisition disease that strategy treatments or the

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our could to enabling solutions. us our cancer from To target and may period monotherapy allow the limit that clinical are our increase us to to expanding a individual needs broaden oncology an compound mRNA survival positive, expect with development are market initial vaccines of entering enables are potential across Our of options. We that our formation any pipeline was market. proprietary individualized we more technology. for do and not the we of which XX data best by population regimens specifically the BioNTech The a of significant, long-term approval a company. our patient to few with is pipeline. beginning to patient. BioNTech business, authorization pivotal submissions to in treatment our synergy continue combination there determine years. In cancer potential the and are addressing us in each for combination challenges assets transformative evaluate achieve for approaches strategy interested in the in to strategic across advantage are antigens oncology needs, path as the programs unique. This ourselves one to opportunity possible This parallel we potential fundamental to each address that or designed potential is which the and Having to in suited. year-end. of improvements diversity meaningful And in enter logistic those outcomes technology-agnostic multiple indications. Starting very cancer therapeutic be trials the has for regulatory this we we We're for lead for will the we medical built of combinations areas after marketing continuing into can pipeline, could the pivotal following positioned design to to that unmet the the are best in believe on XXXX improved trial scope of and a patient first [indiscernible] the or and in and activity patients. lead to unmet additional reached years, a which X. rates to reiterate, if drive support XXXX, period the aiming evolve the high expeditors indication, in indications medical will focus next to for Slide pursue over

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Özlem Türeci

Glad to today. with be speaking everyone

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to Moving our assets. priority

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from inhibition Firstly, ] for BNTXXX X-XBB activation. we antibody Phase [ [ present patients. to cell data and is candidate non-small bispecific costimulatory BNTXXX our generally ] point plan cancer PD-LX combining a II lung with post-IO

] data presented antibody bispecific Second, BioFire planned in are developing to mentioned, the are from anti-PD-LX [ monotherapy Phase be ]. already VNTXXX, II we as anti-VEGF with for collaboration [ [ trials ]

of value of [indiscernible] [indiscernible]. can non-interventional will development we we human At date, product present present patients in registrational ADC. potentially ASCO be that observational for population. And data cell present also will now targeting from and patterns II to Holstein. that, lastly, this plan and this our first patient initiate population resected including trial. With Jens our a our the patients Third, data, in trial will and presentation study cancer ] to the [ I our ] in pass high-risk we [ free epidemiologic Phase of BNTXXX in design with real-world plan overall supports in CFO, with prevalence individualized survival or prognostic and partner, Then ], vaccine our to the will ctDNA inform a T U.S. evidence informs the [ that treatment colorectal patient for trial we postoperative for

Jens Holstein

everyone who call. to welcome warm in dialed has A today's

COVID-XX and we revenues COVID-XX total vaccine. in EUR approximately This sales Let first mostly million quarter revenue figures begin by consistent for environment is my vaccine. that expect for section reported key period XXXX. of our for we the revenues with from the endemic QX XXXX, XXX me the of expectations of with In commercial some seasonality our financial driven our internal reflects figure the

largely COVID-XX will will by group until uptake revenues to the oncology Our continue our vaccines recognized. of be driven revenues be

in of approximately recognize in our full the last QX. revenues to month expect mostly We year of XXXX, XX%

are terms maintained in of with plus loss position our of with of cash EUR the We line in strong plans internal security the In tax million. our EUR end quarter also operational before at first and investments financial the our quarter. total with spending, XX.X billion we XXX ended a

dosed year real second the the trials trial colleagues multiple our pivotal oncology first and in across registrational to track making are start Phase we started our this progress patient before, year. mentioned, pipeline. As additional our on We potentially III

capability remains us clinical focus approaches from on late-stage to that core and the trials our invest others our Our platform differentiates of BionTech industry. represent mRNA in and in the

our adapted to business. Alongside invest our continue COVID-XX vaccine the COVID-XX variant upcoming Pfizer, season. in are we and working also vaccination leading We profitable partner, vaccines on for

profitable COVID-XX our to are upcoming continue the invest Alongside on interacted for COVID-XX partner, vaccine Pfizer, vaccination also and season. We working in we very our business. vaccines leading

flu potentially continue going for a stringent to to a also sustainable vaccine strong well combination Bolstered we cash which our future additional invest into in quarter results are COVID-XX to our in we detail financial more drive our pipeline and discipline, XXXX. now will candidate, position We demand investing cost [indiscernible]. expect positioned and of first are on the little achieve growth. I'll be by

As XXXX revenues XXXX. noted reached total the quarter billion compared first X.X for with of reported the quarter million XXX first EUR of approximately earlier, our EUR for

million XXX.X for Moving to XXXX comparative of compared to for million was SG&A of our EUR due count scaling the taxes XXX the for EUR to the services compared Research development quarter for first million approximately reached for million million XXX the period. quarter the quarter year XXX to EUR quarter XXXX tax These to expenses compared IT EUR first the prior in due manage EUR the and million comparative an prior XX negative year expenses X% derived realized XX.X of million oncology as marketing increased applicable increase cost expenses for compared the and on mainly sales. EUR XXXX in million pipeline XX.X was comparative of as rate prior was of mainly XXXX well in the the for of of amount million and amounted first expenses expenses XX progressing to to XXXX The for period. increase quarter income. business. Income administrative were comparative General the to effective increase compared XXX first year tax the The prior to for and to for to million with period. of period. for EUR first year related of quarter The year prior EUR an EUR comparative clinical period. our first support to of expenses XX XXXX the EUR amounted in studies head impaired of those. Sales personnel

For year million the we of loss first net for of quarter a period. XXXX, approximately prior net EUR of XXX reported compared to the XXX a comparative EUR profit million

for first diluted Our quarter X.XX compared EUR for loss per a share the period. of X.XX XXXX amounted to share comparative to year per the of prior EUR profit

believe strong Besides the fetches franchise oncology forward. products will diseases, a picture reaching earlier onwards. a is trials we continue having [indiscernible] aim [ As for potentially we XXXX, we growth. We to company XXXX year to indicated which this of long-term year, change in have market have year-end XX running going invest multiple aim in our by ] which [indiscernible], the to by XXXX the will

I company's next to guidance Turning would the to have year. XXXX emphasize the like for we slide, financial reiterated the that financial

the in we months XXXX, As approximately in to previously, mentioned last revenues XX% of recognize full year our mostly of QX. expect

update R&D our Additionally, billion Those on concluding that, turn year-end. With to year-end outlook to with quarter-by-quarter Chief and gradually million XXX strategy would for for to expenses XXX an EUR Strategy are the over expenses. we our expected like call EUR to Ryan Officer, until increase remarks. EUR Richardson, X.X I million SG&A and for guidance billion from R&D also reiterate to EUR SG&A X.X call our our and

Ryan Richardson

regulatory working variant half with Pfizer the are be adapted the Consistent in to WHO's upon second COVID-XX our vaccine We approval. year to of the recommendation. ready launch with

be will will JNXvariant updated and We [ the expect the that encode ] monovalent. vaccine

and received were approval June XX% have inclusion were over received lines publicly recommendations earlier. May from the strain genetic the ] and in mid-May. in [ XXXX, advisory other in and XXXX, September. August the expected EMA April expect to of derived and granted [ SAARs and and are additional JNXvariant from for we committees approval databases of sequences selection This strain updates and strain The late As available [indiscernible] year, ]. In recommendations those for anticipated already and WHO time regulatory come WHO

August, to approval If full to could last and vaccination and relative of in this EU FDA could support the occurs, enable earlier an We respectively. campaigns. late vaccines July expect launch year in come it

are preparing COVID-XX vaccine over XX in the We to launch geographies adapted [indiscernible] worldwide.

do U.S. vaccine While by will in the most to not so. XXXX. some the under to new immunization regions U.K. contracts, updated they continue do regions qualify who expect in be This markets enable existing like to to COVID-XX served private we choose outside government should individuals recommendations may could open access

Turning to next slide. the

significant major term we value commercial patients believe [indiscernible] delivering and Our to platforms for and of invest could classes address unmet potential. technology to in by create our aim is shareholders and the sustained diverse drug We is and our are investing growth needs strategy each unlock to candidates to continue pipeline. in product that aim

more a next months each the We readiness pivotal conclude selected initiated more data our transform to to up continue updates by to our have aim to in ahead. To for through and successive the for wage focused commercial forward and go-to-market additional details XX XX more medicine remain our We slide, are product months disclosing potentially these next of XX-plus innovation. activities. period year-end goal near-term expected strategy is of classes. on programs We across the over catalyst-rich our registrational XXXX ramp look with trials on on and entering to to candidates trials

is products while our pipeline of to into XXXX our that oncology redefine and in first we we the BioNTech in a late-stage our therapies. Longer candidates approved to advancing transform company the and of diversified product combination stage by novel portfolio commercial immunotherapy Over aim aim enter midterm, term, multiproduct a with medicine. position to broaden

excited for world. our potential truly the a to difference make pipeline patients the are by and around hold technologies We

we highlight the Before for events investor on slide, questions, will opening next holding be would the year. this floor like to I important

Annual Meeting and place on X. machine will and will take General XX, Our intelligence place event learning on take October artificial May our inaugural

planned Series Innovation XXXX main is XX. for Our November event

I would that, on call like for will further events questions. We course. With details to due share open the these in

Operator

America. question Ahmad Instructions] And of from the your Bank first [Operator from of Tazeen line comes

Tazeen Ahmad

plan upcoming you going relates remind For expect? conference next data that as steps that data compound, the be to once in can ] talk the program? just presented, data presenting you're it to patients you Genmab that us of many the worth the ] to [ about can is to development the at us And [ ASCO how for

Özlem Türeci

Did question present for first I number patients which about second-line with of that cancer lung we cell was trial The the the BNTXXX. will non-small get right?

Tazeen Ahmad

that's Yes, right.

Özlem Türeci

the patients. of numbers I you so a cannot patients, my be but from number these will tell substantial head, So -- will XXX the of that specific be around top

Tazeen Ahmad

also level should of expect And to see? detail what we

Özlem Türeci

will data, safety we have data activity and you or which then So data. see until

Tazeen Ahmad

plan is And this with Okay. forward what program? the moving

Özlem Türeci

are you our in so this disclose program planning with specifics year. time, cannot partner, the but later sometime we this any this at more will Gannet, We that phase hear about

Operator

next Leerink Instructions] And [Operator from Partners. your line comes Graybosch the of Daina question from

Daina Graybosch

have I another [ ASCO X on ].

if So [ take [ to Akeso overall much ], talk we VEGF ASCO to ACES I about [ data yours ] PD-LX. also, your ]. the the Summit, compares how about from data bispecific yours read-through targeting should data could PD-X competitor also can from is Akeso could molecule How at which the from rather expect a than and we but of for to And more you the approach? wonder if you the PMXXXX this from talk positively

Ugur Sahin

you, have we now will lung on target is the clinical in we which including cancer lung services. and combination What the PD-LX encouraging, and cancer. cancer, just this cervical to small update presented to data cancer at tumors, cell on -- responses are cold indications multiple non-small present non-small the arm is in on in running indications, and safety and with PDL-X already moment, for similar we cancer and to combination. have, triple-negative expect the also cancer. And in data are going lung we platinum-resistant also see tumors. And data showing you the ovarian breast single remind [indiscernible] very response response or cell So negative cohort data ASCO

seeing are I the be goes Of rate data well have access that of a NGS think that not a better appears profile plus into response better compared safety the course, comparison as ], DGF access to and ] that as direction. specific PD-LX the is treatment. -- targeting with data to same we do associated And the [ despite [ as we means atezo direct but with competitive

combination So excited using chemotherapies compounds very for -- for a upcoming future we about ADCs. approach as combination these are of and in our the

Operator

question the from line comes Tewari next from your Jefferies. of Akash And

Akash Tewari

the asset to is in for the an returning consistent With that high I profitability. BioNTech should growth occur This to BioNTech the something position mind, team story. what earnings has with to build this once Is large But you estimate COVID more enters the level. know in look market? that pipeline? more is separately, tried Or as cap the work to that force to look is to your pipeline? And sales oncology better then partner oncology Or would tied internally? you this would your past, ADC commercial launch

Ryan Richardson

with start maybe of I'll the part second it.

now We we general even strategy. certain as of there with their also that's partner or early in asset want retain us specific oncology assets reach accelerate been though, think COVID-XX. a assets, -- of matter geographically partnerships for to could us the relevant. Generally if do help speaking asset X partnerships where strategic will that more on the to broaden I a brings infrastructure strong reach continue balance and evaluate by a sheet. see be hallmarks I help sooner that of And think we profitability have to economics might have

an made really in be think to commit while partnering that the time, build major in at commercial presence I basis, markets. a those oncology actually do we So same are asset-by-asset going to the decisions on

years. I'll to those come profitability deliver having really, at that multiple products. that's as bit so say plans, go think by apology just and here that beyond long-term as be priority XXXX, into the growth high speak revenue pipeline little point, there's sustained couple the with plans you've advancing indicated but XX growth, now Jens but approvals point driven why launches. We've target we're the out that from in XX by indication can time put that, multiple of approval we a we that, building highlighting studies opportunity a is level and an successive product the we do significant the the that let I'll going see, that of that And to and late-stage next a over to alluded, do outset

and, so being is that important. And really course, growth is that long-term the getting get growth of now that is on -- profitable to trajectory But trajectory. focus our priority on right

Jens Holstein

made I think the you Ryan, Thanks most statement important already.

I upside the if course, how yet. in be when and clear market into big a have are with look not potential you So upside [indiscernible] XXX% mean see we we could the that we going revenue development COVID of forward, some

the guidance it We how combination. see for going for any that to haven't in given ongoing We're evolves. 'XX years

the our In oncology is. We already. that our lift made Ryan control want we think costs we value to we as think statement I And shown I investing create sensible it, to terms as good can it as portfolio. in in as spend, the of have

partners growth forward. looking, and have in are as in But we are value optimistic of us to the We that a of there lift some to we of very here going the regionally course, company. have terms front

Ryan Richardson

of hearing I the up. you're that's that in think be [indiscernible] with if X from term, us, vaccine the to those short going has is and think so to -- near-term Yes. we successful, Akash, dependent that combination is very rates, in do COVID on the the drivers rates part profitability what bring potential And flu, the

Operator

question Your Jessica line Fye JPMorgan. from from comes the of

Jessica Fye

us what's efficacy, the that, ASCO Coming product's element to do ton? back profile on? the showcase that of to And would benchmark the [ expect right you and BNTXXX regimen related metric and best what update, efficacy ] to you which focus to the compare

Özlem Türeci

a which in cancer then with be will combination this population to regimen. emporium we line regimen would compare BNTXXX second post-CPI to [ ] need you will non-small be the and cell of lung So the presenting

Jessica Fye

more. list you be? Maybe of I'll few two? example year-end you throw hypothetical a XX running imagine you trials could Can in or here, might I throw a but scenarios an recap contemplated just X maybe what out potentially registrational the by

Özlem Türeci

non-small the to of them in this XXX [indiscernible] experience cooperation entire CTLAX, is Phase example examples. Is activate want VNT PD-X, several do which trying ], you ] or II. are in lung cell [ an the [ trials we our question? cancer in with So is PD-LX NCX One we activated. trial have

BNT asset which Genentech with list, we trial, registrational out potentially have in has started trials with is in are [ example III, trial, will XXX Outogensevunaran around our is [ is ], trial Then ]. One low we cancer Roche early year. HERX colorectal our the individualized read XXXX. which codeveloping in cancer this vaccine, ], Another this cancer breast which with priority also [ Phase breast

our trial. adjuvant pancreatic example is cancer Another

Additionally, BNP so activate with we ] the compound. trials [ will BGS [ XXX ], PD-LX

We have talked about earlier.

end which activate are several cancer. our of the ] these testicular with potentially trial very in should codinCAR-T-cell [ is I this of T registrational year. One like by So would cell list here, one, CAR examples trials, of also we our exciting to

Operator

line from And your Werber of next Jan question ] comes from [ Calin. TD the

Unknown Analyst

This is [ for ]. Brendan on Yaron

the of of quick HSV a data pipeline. with you're disease enrollment timing and Just Phase we're from malaria, and a any on have to pipeline? this TV actually wanted going update at updates how vaccine you're X shingles on potential part I if for It and maybe year. infectious sometime to us from this programs like prioritizing where But looks also kind the see I notable to the there's

Ugur Sahin

updates II steady tile I data year. the on now data malaria immunogenicity at actually setting, provide which events and and HSV-X of created into are proceeding end this will time. will a various in the come on TB on data we Phase until Yes, the the Phase and car a

Operator

next comes Capital of line from Darout from question Etzer Markets. The BMO the

Etzer Darout

moving but studies into bigger about when seeing rely for combinations another particularly the and early those proof-of-concept targeted some the picture start combination curious emerge. those strategy internal to around approaches and strategy maybe Just could of of immunotherapy question oncology, combinations of on external moving molecules, assets, we just like assets. therapy

Ugur Sahin

Yes. X tanks like would ] Excellent [ we activate. of now actually This to that question. is the

type is with with T [ combination therapy X So the CAR ties ] first vaccine. of a internal assets cell

recently combination, increasing the synergy X reported indeed of partitions data T the have cell. between We shown the of

price combination with start to will see do multiple the into go dedicated actually, and year, will be of IO to half combination of a first our will XXXX. compounds price end components convert the price registrational bring ADC our we portfolio. And intense first the second us position of this assessments in We to an in contribution where our of year XXXX safety price into

Operator

Morgan Stanley. next question your comes from from Terence Flynn the And line of

Terence Flynn

registrational For sounds like was list BNTXXX, your it on it of trials.

learnings? again, an from just to presentation you Phase year ASCO II So what for just had trial, data on noticed you'd wondering some you what there at Or efficacy ASCO? key And on accelerated I epidemiologic are to need what CRC an for an Again, show consider next basis show then filing would be the that approval. the data to expecting here.

Ugur Sahin

Yes.

This And as end survival. adjuvant care standard in care disease-free personal clinical followed SXC. The chemotherapy we in is -- by -- months prior, for of the and actually is surgery analysis X PFS versus half population So after a is around in is have data. say the which patient clinical ctDNA endpoint at of this of you tide Phase moment. plant positive. this trial that study. is II the this around and of in can studies of have this powered this [indiscernible] chemotherapy standard XXXX. course, months. compares It expected on actually poor this totality population and who the a the population colorectal is The study will very prognosis patient after all is population, population are XX patients patient [ second sufficiently And expect else enrolling depend cancer epidemiological patient ] early is a everything the is care, Multiple what of the shown metastatic

Ryan Richardson

epidemiological a words say to at study want you Do ASCO? about the few

Özlem Türeci

that. Yes, I can do

ASCO epidemiological study. will So at we what a present is

to prognosis of it's not the study. have understand a patient in better order study So treatment And this epidemiological populations. we conducted those

trial informs our with that subpopulations, further ongoing particular, also ctDNA because positive in clinical trial. BNTXXX our clinical have We ongoing of in which are

our epidemiological investigational to this prescreening to recruit trials. patients addition, trial trial In is a identify into

are get, you will colorectal survivals subpopulation. CTDNA epidemiological cancer in in in the rates populations positivity So in data disease-free particular, which high-risk seen this of and

Operator

Canaccord. ] the from from [ McGann of line comes Bill question next Your

Unknown Analyst

we lot who company radiotherapy sizes the in not of recently BioNTech or or internally? at? could warranted? expect it if so, recently do yet oncology the deal by see It a field in And just into has like get you range excitement be BioNTech technology-agnostic that look a combination as technology radiotherapy, could seems stake bringing potentially the some gotten to So could partnership in that as

Ugur Sahin

Yes.

So indeed, This value aspects of maturity. are immunotherapy reaching the our is that X following. is we

for into for the this of in-licensing, looking We some could direction. are when data. are opportunities that this validation go of we have about internally We we year not but that doing talk end currently research could

Operator

Oppenheimer. comes from Singh Hartaj from next of question your line the And

Hartaj Singh

to quarterly just where question average I the listed you patient ask enrollment. the want slide on a

going seen Over you've first a in oncology, the from the quarter in years, recruiting couple patients. nice just I we've really vast actually in real last of of number mean trials and of companies on seen because oncology acceleration XXXX 'XX. difficulty with a the to IO 'XX

when more that. And exactly trials late just site. to to what mean doing? readouts I'd behind how color to your So meat recruiting it's or does happen? readouts? to see the does improvement I RV hear that love are ahead approved it can change then how thinking the on Is -- put stage, maybe the nice to trials enrollment, this bone translate on getting could moving in potential on at ability patients some you that actually but actually just more you trials the of -- spending

Ugur Sahin

Yes.

me the the part first question. take Let of

line XXXX time the XXXX. in So of to XXXX,

we recruiting those statistics. so of and and the with dealt are ties course, cars, a which us reaching based enroll that clinical which multiple assessment are III, on ensure Of and lower escalations patients first And biomarker of in trials cohorts, Phase safety early assessment, we Phase faster allow and on. a typically clinical get we number we to in now naturally phase where I defining are

move of out. now of to we able trials time registrational into clinical multiple then we past will registration are to This And expect all are provide is line the read the we why also the for reason this year. products, end

be year, multiple we or bid-outs first read year City the endomesrial on will for ASCO current opportunity potential to be running registration ] will this presented next our get year. mid be of the have ESMO authorization and will in [ first and year alluded trial is end And Ryan ] next second -- to the [ for next As cohorts. with cancer, at out internal of year half

Özlem Türeci

that, out quite to difficult. patient pointed recruitment add you I becomes more correctly have that and more

to us that and and situation combination choose richness design trials, in are assets different assets to the we to a very oncology that beginning execute capability clear have XXXX. But several have improve these become from to very this of it multiproduct We a fortunate company on give a which our thereby the us trials. was can we also to by those means our space clinical hits that target

So we have invested, shows. and chart this is bar this what

also large clinical example, U.K. thereby have launch with these with of in building basically are also and trials working our for that what models we is partnership, partner invested national partnership we the mobilizing partners with reflect. on as major invested enroll vaccine a joint this numbers into mature we which to level, sites. to numbers cancer And a it. And to organization clinical operations, private We grow and such into our public our and efforts development have companies have

Operator

your next And question line Merle, of comes UBS. the from Eliana

Eliana Merle

bit the have the broader cancer opportunity this on this your you and correctly. in of pivotal just late a and breakthrough it fit ] you're if half there. heard Can Just to endometrial [ mentioned would in I the asset year, got for thinking ADC, little about for also that and where the study more HERX where design landscape of dinendometrial last in you think pivotal you the second year, how tell next I us expect data you

Ugur Sahin

the X which data The combined the is based inform will be And still single to the is and around with planning phase, months in will in complementary yes, the for ability the population. it data. we this be part in turning X confirmatory of design response a about of safety pipe And and tile. data in this are pie registration will on response we

Operator

line next Your the from comes Simon Atlantic. Redbud of from Baker question

Simon Baker

SG&A. on It's

you this increase would of I just and EUR a an implies footprint guidance large year. is is if and Your idea this could phases the commercial it the XXX Is give us million 'XX I versus -- XXX EUR global assume of or of this wondering how of part build-out. year an that also XXXX. most spend year that most in million between of over 'XX?

the Some cadence be that of great. would build-out of idea

Jens Holstein

increase further in S&M for 'XX, have to the for expect slight then cost in quarter-by-quarter increase there of G&A setup. a should And costs You a likely and we in terms the have 'XX 'XX. that

start spend timing shortly launch, to hire will for XX drive before force of that personnel the Of will you course, the you the to and only of commercialization that million. --

Operator

from Your HSBC. next question the Yang from ] of comes line [

Unknown Analyst

think of Just HERX think ultra in cancer. about one breast X loan your How [ your biomarker the low do you have the expection you there pivotal on question well ] about ADC when whether perhaps study? HERX you and as in design

Ugur Sahin

Indeed Yes. ultra a plus plus even This question or X question is to low good indeed. is X the low even negative. how about or

In cohorts the population enrolled patient patient analyzed are end the report the be this priority -- ] the all will decision prior and upcoming and price year. patient later and in likely on to on. the we sign a So about considering clinical will be design for [ population of make to our most

Operator

VK. [ of fan ] the Tuen line question Zane your from comes And from final for

Unknown Analyst

active Last deal-making you This relates development which on to and is were front. VK, Suzanne year, from business fairly M&A.

give you next year. can for [indiscernible] what this we forward So ingoing of and

lot run lot profitability on a have but parts side. projects You moving of on the hand, and of cash also a many

as wondering So deals I your was change? did appetite assets if pursue to and you're similar Or continuing previously?

Ryan Richardson

focus That deals year general level decreased we're to activity expect assets, opportunistic. is our on said, in number more be I year. And be think to if terms open can you this this but of clinical synergistic I think the we of will execution. of

Operator

participating. Thank This you concludes today's conference for call.

disconnect. You may now

BioNTech SE (BNTX) 6 May 242024 Q1 Earnings call transcript