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Dec 31, 2024
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CureVac Q4 2024 Earnings Report
CureVac reported a Q4 2024 net loss amid strong liquidity and continued R&D investment.
Key Takeaways
CureVac posted a net loss in Q4 2024 but maintained a solid cash position of €481.7 million. Revenue decreased year-over-year, impacted by prior one-off events. The company continues to focus on oncology and prophylactic vaccine R&D, bolstered by strategic milestones and litigation successes.
Q4 revenue totaled €14.5 million, down from €22.6 million in Q4 2023.
Net loss for Q4 was €38.6 million, narrowing from €86.5 million in Q4 2023.
Cash and cash equivalents stood at €481.7 million at year-end, ensuring a runway into 2028.
Positive patent litigation outcome against BioNTech strengthens CureVac's IP position.
CureVac
CureVac
Forward Guidance
CureVac reaffirmed its cash runway into 2028 and expects key clinical trial milestones in H2 2025.
Positive Outlook
- Cash runway secured into 2028.
- First patient dosing in sqNSCLC Phase 1 trial expected H2 2025.
- Data readout from glioblastoma trial Part B expected H2 2025.
- FDA clearance obtained for new oncology trial.
- Successful IP litigation bolstering patent defense.
Challenges Ahead
- No recurring revenue from 2024 one-time licensing payments.
- Continued net losses from high R&D and litigation costs.
- Impairment of production facility line impacted earnings.
- No new commercial product launches in Q4.
- Ongoing high dependency on milestone payments and collaborations.