CureVac Reports Q2 & H1 2025 Financials, Partners with BioNTech, and Resolves Patent Dispute with Pfizer/BioNTech

CureVac reported Q2 and H1 2025 financial results, with a cash reserve of €392.7m, forecasting operational sustainability into 2028. The company resolved a U.S. patent dispute with Pfizer/BioNTech, securing $740m in payments plus royalties. CureVac also announced a definitive purchase agreement with BioNTech to acquire its shares, aiming to amplify mRNA-based therapies. Revenues decreased to €1.2m for Q2 from €14.4m in the same period last year, largely due to a shift in the GSK partnership structure and reduced sales to CRISPR Therapeutics. CureVac's operating loss for H1 2025 was reduced to €116.5m from €146.9m in 2024.

CureVac, a pioneering German biopharmaceutical company, has reported its financial results for the second quarter and first half of 2025. The company's cash position stood at €392.7 million as of June 30, 2025, extending its operational runway into 2028 [1]. Despite a decrease in revenue, CureVac's pre-tax loss narrowed significantly, reflecting strategic cost reductions and restructuring efforts.

Key financial highlights include:
- Revenue: Revenues decreased to €2.1 million in H1 2025, down 92% year-over-year, primarily due to lower revenues from GSK following the restructuring of the partnership in July 2024 [1].
- Pre-Tax Loss: The pre-tax loss improved to €111.6 million for H1 2025, down 20.7% year-over-year, demonstrating the effectiveness of the July 2024 restructuring [1].
- Cash Position: The company's cash position stood at €392.7 million as of June 30, 2025, with a runway extended into 2028, providing substantial operational flexibility [1].

Strategic developments:
- Acquisition by BioNTech: CureVac entered into a definitive purchase agreement with BioNTech, aiming to unite two highly complementary German companies in the mRNA field [1].
- Patent Settlement: The company resolved patent litigation with Pfizer/BioNTech, receiving $740 million plus royalties for COVID-19 vaccine sales, and an additional $50 million from GSK for future royalties [1].
- Clinical Advancements: CureVac received CTA clearance from EMA for CVHNLC cancer immunotherapy targeting squamous non-small cell lung cancer, and glioblastoma trial data is expected in H2 2025 [1].

CureVac's strategic pivot to focus on pipeline development rather than commercial manufacturing aligns expenses with long-term value creation potential. The company's acquisition by BioNTech and patent settlement with Pfizer/BioNTech are transformative despite quarterly losses and reduced revenues.

References:
[1] https://www.stocktitan.net/news/CVAC/cure-vac-announces-financial-results-for-the-second-quarter-and-74lnfe9g51mc.html