CureVac’s Final Chapter: Shareholders to Decide on BioNTech Takeover

The fate of CureVac hangs in the balance as shareholders prepare for a decisive vote on November 25, 2025. What began as an ambitious mRNA pioneer is now approaching its conclusion through acquisition by the industry giant BioNTech. This meeting will determine whether the German biotech firm continues its independent existence or becomes part of its larger competitor.

An extraordinary general meeting scheduled for November 25, 2025, will serve as the culminating event for CureVac's standalone operations. Investors will cast their votes on the final merger agreement that would effectively end the company's independent status on the public markets. According to SEC filings dated November 12, the business combination communication has reached its final stages, signaling the imminent completion of a takeover that was initially announced several months earlier.

The company's current strategy appears entirely focused on concluding this transaction, marking a significant shift from its original mission as an independent biotechnology innovator.

Should investors sell immediately? Or is it worth buying CureVac?

Financial Performance Paved the Way for Acquisition

Disappointing financial results from the first half of 2025 highlighted the challenges facing CureVac and likely influenced the decision to pursue a merger. The company's interim report revealed several concerning trends:

• Revenue experienced a dramatic 92% year-over-year decline, dropping to just €2.1 million
• Despite the severe revenue contraction, the firm maintained a solid liquidity position of €392.7 million as of June 30, 2025
• Cash reserves are projected to sustain operations until 2028, bolstered by a major settlement in patent litigation

Patent Settlement Strengthened Negotiating Position

A pivotal development occurred when CureVac and its partner GSK resolved their intense patent dispute with Pfizer and BioNTech concerning mRNA COVID-19 vaccine technology. The settlement provided CureVac with a $740 million payment, substantially strengthening its financial standing and improving its bargaining position ahead of the acquisition talks. As part of the agreement, all pending lawsuits in the United States were dismissed.

The situation contains considerable irony: BioNTech, previously an opponent in legal battles, is now positioned to acquire the weakened company. For CureVac investors, this transaction concludes a volatile period in the company's history, leaving only the question of final valuation to be determined at the shareholder meeting.