CureVac NV
NASDAQ:CVAC
CureVac NV
CureVac BV is a clinical-stage biopharmaceutical company, which engages in developing transformative medicines based on messenger ribonucleic acid (mRNA). The company is headquartered in Tuebingen, Baden-Wuerttemberg and currently employs 500 full-time employees. The company went IPO on 2020-08-14. The firm is engaged in the therapeutic development of messenger Ribonucleic Acid (mRNA) and RNA-based vaccines. CureVac AG focuses on developing vaccines for infectious diseases and drugs to treat cancer and rare diseases. The firm's pipeline focuses on three areas: cancer immunotherapy, prophylactic vaccines, and protein-based therapies.
CureVac BV is a clinical-stage biopharmaceutical company, which engages in developing transformative medicines based on messenger ribonucleic acid (mRNA). The company is headquartered in Tuebingen, Baden-Wuerttemberg and currently employs 500 full-time employees. The company went IPO on 2020-08-14. The firm is engaged in the therapeutic development of messenger Ribonucleic Acid (mRNA) and RNA-based vaccines. CureVac AG focuses on developing vaccines for infectious diseases and drugs to treat cancer and rare diseases. The firm's pipeline focuses on three areas: cancer immunotherapy, prophylactic vaccines, and protein-based therapies.
Revenue Surge: CureVac reported a significant increase in full-year 2024 revenue to EUR 535.2 million, primarily due to a EUR 400 million upfront payment from a new GSK licensing deal.
Profit Turnaround: The company moved from a EUR 274.2 million operating loss in 2023 to a EUR 177.7 million operating profit in 2024, driven by the GSK agreement.
Cash Position: CureVac ended 2024 with EUR 481.7 million in cash, supporting a projected financial runway into 2028.
Restructuring & Cost Cuts: A 30% workforce reduction and restructuring in 2024 have positioned CureVac for over 30% lower operating expenses in 2025.
Pipeline Progress: Key oncology and infectious disease programs advanced, including full enrollment in Phase I glioblastoma study and FDA IND clearance for a lung cancer immunotherapy.
Milestone Payments: GSK initiated new clinical trials with CureVac's mRNA technology, triggering a EUR 10 million milestone payment, with further milestones expected upon Phase III starts.
IP Validation: The European Patent Office upheld CureVac’s split poly-A tail patent in amended form, strengthening its position in ongoing litigation.
