CureVac sees cash reach to mid-2025

Cash and cash equivalents amounted to EUR 495.8 million on December 31, 2022, down from EUR 811.5 million in the previous year. In 2022, cash was used for the funding of CureVac’s operations and R&D, the funding of the company’s new commercial-scale manufacturing facility, GMP IV, and the settling of contract manufacturing organization contracts as part of the wind-down activities for CVnCoV, the company’s first-generation vaccine program. In 2021, cash used in operations was mainly allocated to pre payments to contract research organizations and CMOs in relation to CVnCoV. As of December 31, 2022, CureVac has settled most of its financial obligations related to CVnCoV. Looking forward, CureVac expects to see a decrease in cash outflows relating to the first-generation vaccine program. However, the company may have further cash outflows as it continues winding down CMO contracts associated with this program.