CureVac (CVAC) Investor Presentation summary

Strategic transformation and financial position

• Completed corporate restructuring with a 30% workforce reduction, streamlining costs and focusing on high-value R&D programs in oncology and infectious diseases.

• Cash position of €481.7 million as of December 31, 2024, with an expected runway into 2028, supported by a €400 million upfront payment from a restructured GSK collaboration.

• OPEX to decrease by over 30% from 2025, including €25 million in personnel cost savings.

• Deprioritized commercial manufacturing build-up to focus on clinical trial supply, resulting in partial impairment of the mRNA Manufacturing Center.

• One-off payments in 2024 totaled €137 million, including restructuring and litigation costs.

Pipeline and clinical progress

• Oncology pipeline advanced with Phase 1 glioblastoma study showing antigen-specific T cell responses in most patients; data readout expected H2 2025.

• IND and CTA filings for off-the-shelf squamous NSCLC (sqNSCLC) program; FDA clearance for Phase 1 study in the U.S.

• New pipeline programs initiated for UPEC (urinary tract infections) and immunotherapy in sqNSCLC.

• Infectious disease programs fully licensed to GSK, including seasonal and avian influenza, COVID-19, and a flu/COVID combination, with multiple Phase 1/2 and Phase 3 studies ongoing.

• Preclinical UPEC mRNA vaccine candidates demonstrated superior immunogenicity compared to protein-based vaccines.

Technology and innovation

• Dual oncology strategy with both off-the-shelf and personalized mRNA cancer vaccines, leveraging proprietary antigen discovery and The RNA PrinterⓇ for rapid production.

• Precision mRNA backbone and advanced LNP delivery systems enable robust immune responses at low doses and improved biodistribution.

• The RNA PrinterⓇ provides highly automated, GMP-grade mRNA manufacturing, closing the small-scale gap for oncology.

• Optimized mRNA constructs and delivery systems support high stability, thermostability, and strong humoral and cellular immune responses.