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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
CureVac
CureVac (CVAC) investor relations material
CureVac has been acquired by BioNTech SE
CureVac Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary24 Nov, 2025
Executive summary
Clearance obtained from the German Federal Cartel Office for the planned BioNTech transaction, with the offer period running from October 21 to December 3, 2025.
Litigation with Pfizer/BioNTech over mRNA COVID-19 vaccines paused pending transaction completion.
Received EMA clearance for CVHNLC (sqNSCLC) clinical trial; CVGBM (glioblastoma) Phase 1 Part B remains on track.
Strong cash position of €416.1 million as of September 30, 2025, supporting runway into 2028.
Financial highlights
Revenues for Q3 2025 were €54.1 million and €56.3 million for the first nine months, down 89% year-over-year due to absence of a €480.4 million one-time GSK license revenue in 2024.
Operating profit for Q3 2025 was €310.2 million and €193.7 million for the first nine months, both lower than prior year due to reduced one-time effects.
Net profit for Q3 2025 was €273.2 million and €161.6 million for the first nine months, compared to €338.0 million and €194.9 million in 2024.
Basic and diluted EPS for Q3 2025 were €1.21; for the first nine months, €0.72 (basic) and €0.71 (diluted).
Outlook and guidance
Cash runway reaffirmed into 2028, supported by cost-saving measures and strategic restructuring.
Oncology pipeline progressing, with key milestones on track for CVGBM and CVHNLC programs.
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Latest events from CureVac
- BioNTech acquisition, patent settlement, and cost discipline drive improved outlook despite lower revenue.CVAC
Q2 2025 - Strong financials, pipeline progress, and IP protection drive growth in mRNA innovation.CVACInvestor Presentation
- Streamlined operations and clinical advances drive growth, backed by strong cash and partnerships.CVACInvestor Presentation
- Strong cash position and pipeline progress drive growth in oncology and infectious diseases.CVACInvestor Presentation
- Focused R&D, strong financials, and pipeline progress drive growth in oncology and infectious diseases.CVACInvestor Presentation
- Q3 GSK deal fueled record profit, cash, and pipeline growth, securing runway into 2028.CVACQ3 2024
- CureVac accelerates mRNA innovation with GSK partnership, restructuring, and oncology focus.CVACInvestor Presentation
- CureVac advanced clinical programs, cut losses, and reaffirmed cash runway into 2028.CVACQ1 2025
- Record EUR 535.2M revenue and strong cash from GSK deal drive transformation and 2028 runway.CVACQ4 2024
CureVac
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Frequently asked questions
CureVac N.V., a clinical-stage biopharmaceutical company, focuses on developing various transformative medicines based on messenger ribonucleic acid (mRNA). Its product candidates are also developed for prophylactic vaccines, cancer immunotherapy and other therapeutic areas. The company's lead product candidate is CVnCoV that is in Phase I human clinical trials to protect against coronaviruses, including the SARS-CoV-2 virus. It also develops additional prophylactic vaccine antibiotics, including CV301, which is in Phase II clinical trials for treating non-small cell lung cancer and cervical cancer; CV9202 in preclinical stage for treating melanoma and prostate cancer; and CV8102 preclinical stage for treating breast and pancreatic cancers.
The company's mRNA therapeutics have demonstrated their potential to treat cancers through the triggering of intracellular immune responses. CureVac N.V. operates in the United States, Germany, and internationally. The company was formerly known as Curevac GmbH and changed its name to CureVac N.V. in December 2016.