- CureVac (CVAC, Financial) reports significant revenue boost in 2024, largely driven by a €400 million payment from GSK.
- The company maintains a strong cash position of €481.7 million, extending its cash runway into 2028.
- Key strategic and clinical milestones achieved, including FDA clearance for a new lung cancer study.
CureVac N.V. (CVAC), a biotechnology leader in mRNA-based medicines, has announced its financial results for the fourth quarter and full-year 2024, signaling a year marked by pivotal transformations. The company reported a remarkable revenue increase to €535.2 million, a significant rise attributed largely to a non-recurring €400 million upfront payment from a licensing agreement with GSK.
As of December 31, 2024, CureVac's cash and cash equivalents amounted to €481.7 million, affirming its financial stability and supporting its operational runway into 2028. Although the company marked an operating loss of €43.8 million for Q4 2024, the overall operating profit for the year was €177.7 million.
Significant developments included the completion of enrollment for Part B of the Phase 1 glioblastoma study, with data anticipated in the second half of 2025. Additionally, CureVac received FDA clearance to commence a Phase 1 study for squamous non-small cell lung cancer (sqNSCLC), planned to begin in the latter half of 2025.
CureVac's strategic focus on intellectual property also bore fruit, as the European Patent Office upheld the validity of its patent, countering claims by BioNTech SE. This decision strengthens CureVac's patent portfolio, with a U.S. jury trial rescheduled for September 2025.
The company also received a €10 million milestone payment from initiating a Phase 1 study for a seasonal influenza/COVID-19 combination vaccine under its collaboration with GSK. This aligns with CureVac's strategic pivot towards R&D and technological innovation, leveraging its proprietary mRNA platform.
