As COVID-19 vaccine sales decline, the company is investing billions in a diverse oncology pipeline including antibody drug conjugates, immunotherapy and cancer vaccines

Biotech entrepreneurs tend to be an optimistic group, and there were many pockets of hope for 2024. However, the consensus remains that depressed valuations and paucity of fresh funds will continue to pose a challenge for the sector, and companies will need to prioritize carefully and work even harder to demonstrate and create value.

Like rival Moderna, company reported a steep drop in revenue, but it is still prioritizing its COVID-19 vaccine as an investment priority, while also moving ahead with multiple deals with China-based firms.

BioNTech is betting on China's innovative capabilities by inking multiple deals with local startups to expand its pipeline beyond mRNA vaccines.