CureVac Announces Financial Results for the First Quarter of 2024 and Provides Business Update

CureVac has announced its financial results for Q1 2024, along with a business update marking significant milestones. The company has executed an organizational redesign, aimed at trimming residual pandemic infrastructure, resulting in a reduction of 150 positions by year-end.

The U.S. FDA granted Fast Track designation for CureVac's H5N1 vaccine, currently in Phase 1 development, in partnership with GSK. In the intellectual property arena, a settlement with Acuitas Therapeutics has been reached, acknowledging CureVac's ownership of certain patents. The U.S. litigation against Pfizer/BioNTech is set to continue, with a trial expected in Q2 2025.

CureVac's financial highlights include a cash position of €300.2 million as of March 31, 2024, and a significant boost in revenues to €12.4 million, a 74% increase compared to the previous year. This was driven primarily by collaborations with GSK and CRISPR. The company anticipates lower future cash burn and reaffirms its cash runway into Q4 2025.