CureVac N.V.

Latest Results (06.08.2024):

Cash Position

CureVac N.V.'s cash and cash equivalents amounted to €300.2 million at the end of the first quarter of 2024, decreasing from €402.5 million at the end of 2023. The reduction was primarily due to the final payments related to the termination of raw material commitments for the first-generation vaccine, totaling €52 million. The company expects no further raw material payments related to CVnCoV and reaffirms its cash runway into the fourth quarter of 2025.

Revenues

For the first quarter of 2024, CureVac N.V. reported revenues of €12.4 million, a 74% increase from €7.1 million in the same period of 2023. This growth was mainly driven by higher revenues from collaborations with GSK and CRISPR. Specifically, €8.9 million and €3.5 million were recognized from these collaborations, respectively, compared to €6.5 million and €0.2 million in the prior year period.

Operating Result

CureVac N.V. reported an operating loss of €73.3 million for the first quarter of 2024, up from €60.4 million in the same period of 2023. The increase was influenced by higher costs related to the termination of the first-generation COVID-19 vaccine effort, increased R&D expenses in oncology projects, and litigation expenses. However, general and administrative expenses decreased due to a reduced workforce in corporate services and the Management Board.

Financial Result

The net financial result for CureVac N.V. in the first quarter of 2024 was €3.4 million, an increase from €3.0 million in the same period of 2023. This improvement was primarily driven by higher interest income on cash investments.

Pre-Tax Loss

CureVac N.V. reported a pre-tax loss of €69.9 million for the first quarter of 2024, compared to €57.4 million in the same period of 2023. The increased loss reflects the higher operating expenses and costs associated with the company's ongoing projects and litigation efforts.