BioNTech Tumbles as Founding Duo Plan to Leave to Start New Firm

BioNTech SE’s founders will leave the company to start a new biotech focused on messenger RNA, the technology behind their blockbuster Covid-19 vaccine, dashing investors’ confidence in the firm’s prospects.

BioNTech’s American depositary receipts plunged as much as 22% in US trading after the company said Ugur Sahin and Özlem Türeci would shift to the new company by the end of the year. The unexpected announcement raised questions about BioNTech’s future as it prepares to bring its first cancer therapy to market.