Europe

Moderna vs BioNTech

By Yoram Wijngaarde and Dealroom Next-Gen API September 11, 2026

Moderna and BioNTech both make medicines from messenger RNA, and both made most of their money from a Covid vaccine. In September 2026 the stock market values Moderna at about $55B and BioNTech at about $24B. On the 2025 accounts BioNTech is the larger business, with higher revenue, wider margins, four times the patent value and nearly three times the cash.