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CureVac (CVAC) investor relations material
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.
Quantify EU APA audit financial risk
What is the expected outcome of paused litigation?
Explain cost reclassification impact on R&D
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Q4 202524 Apr, 2026
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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.
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