Over 50% Upside Potential? BioNTech, TUI, and Bayer Partner MustGrow

MustGrow: Stock too cheap?

MustGrow Biologics is currently in a critical transition phase from research to commercialization. The stock is still a hidden gem on the stock market, but with a market capitalization of less than CAD 35 million, this should change soon.

In a conversation between CEO Corey Giasson and analysts from GBC Research, it becomes clear that the company is facing a structural shift in agriculture. Globally, pressure is mounting to reduce synthetic pesticides and fertilizers, while yields must simultaneously be stabilized or increased. This is precisely where MustGrow comes in with biological and regenerative solutions. The mustard seed-based technology is not only intended to be more environmentally friendly but, according to management, is also expected to achieve a level of effectiveness that can compete with traditional chemical solutions. In doing so, MustGrow addresses a central problem of modern agriculture: protecting productive land, improving soil health, and simultaneously meeting growing regulatory requirements.

The market opportunities here are enormous. With TerraSante™ alone, the company is active in a market with a volume of around USD 3.5 billion. So there is no need to conquer the entire market to create significant value. If the soil health product were to achieve relatively low market penetration in high-value US segments such as fruits, vegetables, nuts, grapevines, or potatoes, it would have a revenue potential of around USD 100 million. In the interview, Giasson emphasizes that TerraSante™ can be integrated into existing agricultural applications without major adjustments. This lowers barriers to market entry and increases the likelihood that farmers will actually use the products. In the US, TerraSante™ is already approved in several states.

With TerraMG™, a soil-applied, mustard-based pesticide, the company is targeting a USD 1.5 billion market. To rapidly launch global sales, the company is collaborating with Bayer. The Leverkusen-based firm has licensed the technology for Europe, Africa, and the Middle East and is investing tens of millions of dollars in registrations. It cannot be ruled out that Bayer will acquire MustGrow entirely if the product is successful. Click here for the GBC interview.

BioNTech: Focus Shifts Back to Research Pipeline

Following the disappointment at BioNTech that the founders are stepping down at the end of the year, attention is once again turning to the Mainz-based company's development pipeline. Since yesterday, the company has been participating in the European Lung Cancer Conference 2026 (ELCC) and is underpinning its ambitions in oncology with new data. The focus is on progress in several late-stage clinical programs targeting lung cancer, one of the largest and most medically challenging oncology markets worldwide. Particular attention is being paid to the bispecific immunomodulator Pumitamig, which combines PD-L1 checkpoint inhibition with the neutralization of VEGF-A. According to the company, updated study data from China continue to show promising anti-tumor activity, clinically relevant survival signals, and a manageable safety profile across various indications. This strengthens BioNTech's position for this candidate in both small-cell lung cancer and non-small-cell forms, as well as in patients with EGFR mutations.

Progress has also been made with Gotistobart and the HER3-targeted ADC candidate BNT326/YL202. Gotistobart is particularly noteworthy. The drug, intended for use in previously treated squamous cell lung cancer, is in Phase 3. BioNTech reports a clinically relevant survival benefit and a significant 54% reduction in the risk of death compared to the current standard of care. Initial clinical data for the drug candidate BNT326/YL202 also demonstrate antitumor activity and a favorable safety profile in advanced or metastatic non-small cell lung cancer.

Overall, the presentation at the ELCC paints a picture of a broadly diversified lung cancer portfolio that includes immunomodulators, antibody-drug conjugates, mRNA cancer immunotherapies, and innovative combinations.
With 16 ongoing clinical trials, including four pivotal Phase 3 trials, BioNTech shareholders can expect a strong news flow in the coming months.

Deutsche Bank analysts consider the stock's slide over the past few weeks to be exaggerated. They recommend buying the stock of Germany's largest biotech company with a price target of USD 140. The share is currently trading at just under USD 90.

TUI: What about the desire to travel?

Deutsche Bank has also weighed in on TUI. For the analysts, the tourism group's stock remains a "Buy", and they see the fair value at EUR 12. The stock is currently trading below EUR 7. Management has recently expressed optimism and confirmed its forecast for the year. Uncertainty about the impact of the Iran war on TUI's business is exaggerated.

Over the past 4 weeks, TUI shares have lost nearly 13% of their value. Recent data suggest that travel demand remains resilient despite geopolitical tensions. The company is responding to the surprisingly strong demand for spring and summer vacations in 2026 with a significant expansion of its flight offerings. In April alone, 68 additional TUIfly flights will be added, providing around 10,000 extra seats, primarily to highly sought-after sun destinations in Spain, Greece, and the Canary Islands. Overall, the group is focusing specifically on proven and easily accessible vacation regions such as Mallorca, Crete, Rhodes, as well as Fuerteventura, Gran Canaria, and Lanzarote. European destinations clearly dominate, with Spain and Greece remaining the key growth drivers. For TUI, the capacity expansion is thus not only a response to the Easter travel season but also an expression of a stable travel trend that could benefit the company through high load factors, operational economies of scale, and a stronger margin base.

MustGrow is poised for a growth spurt in 2026. While the company operates independently in North America, Bayer covers part of the costs and market development in other regions. At the same time, the company uses contract manufacturers instead of expensive in-house production facilities. Against this backdrop, the stock appears anything but expensive. BioNTech is also not expensive given its well-filled coffers. However, sentiment is negative. Strong research results are needed. TUI remains at the mercy of geopolitics, oil prices, and the economy. Currently, the desire to travel is high, but this can change. Buying the stock is not a pressing priority.