CureVac sees cash runway into 2028

Cash and cash equivalents amounted to EUR 550.9 million at the end of September 2024, increasing from EUR 402.5 million at the end of 2023. The company received the EUR 400 million upfront payment from the new GSK licensing agreement in August 2024. In the first nine months of 2024, cash used in operations was mainly allocated to payments related to the termination of raw material commitments for the first-generation COVID-19 vaccine, CVnCoV, amounting to a total of EUR 52 million and the payment of contract manufacturing organization-related arbitration awards. All CMO-related arbitrations are closed, with the last payment made in the third quarter of 2024. Looking forward, there will be no further payments related to CVnCoV. The remaining cash spend was mainly related to ongoing R&D activities. The company reaffirms its expected cash runway into 2028.