CureVac (CVAC) Investor Presentation summary

Corporate highlights and strategic transformation

• Initiated comprehensive organizational restructuring in 2024, including a ~30% workforce reduction and streamlined leadership to enhance efficiency and innovation focus.

• Secured a new licensing agreement with GSK for influenza and COVID-19 vaccines, including €400 million upfront, up to €1.05 billion in milestones, and tiered royalties.

• Cash position of €202.5 million as of June 30, 2024, with cash runway extended into 2028 due to the GSK deal and cost reductions.

• Strengthened oncology pipeline through collaboration with MD Anderson and progress in glioblastoma clinical studies.

Financial performance

• Q2 2024 revenue was €14.4 million, with a pre-tax loss of €71.2 million; H1 2024 revenue reached €26.8 million, with a pre-tax loss of €141.1 million.

• Year-end 2023 cash and equivalents stood at €402.5 million, with a full-year pre-tax loss of €260.0 million.

• Operating expenses are set to decrease by over 30% from 2025 onward, supporting financial discipline.

Pipeline and R&D progress

• Robust and diversified pipeline includes oncology, prophylactic vaccines, and molecular therapies, with multiple candidates in preclinical and clinical phases.

• Promising Phase 2 interim data for COVID-19 and seasonal flu vaccines; additional studies underway to optimize immune responses.

• Glioblastoma Phase 1 study initiated, with first data readout expected in H2 2024.

• Strategic partnerships with GSK, MD Anderson, and myNEO enhance development and commercialization capabilities.