CureVac’s Final Chapter: Shareholders Vote on BioNTech Takeover

The independence of Tübingen-based vaccine pioneer CureVac hangs in the balance as investors prepare for a decisive shareholder meeting. All attention focuses on Amsterdam, where an extraordinary general meeting will likely seal the company's fate as a standalone publicly traded entity. With the stock price trading within a narrow range, the central question for shareholders is whether the transition into the BioNTech empire will proceed without complications.

CureVac faces its most pivotal trading hours. On Tuesday, November 25, 2025, at the offices of NautaDutilh N.V. in Amsterdam, shareholders will convene for what represents the final act in the company's corporate structure. The meeting's agenda centers on what is termed the "Post-Offer Reorganization."

This technical phrasing describes the crucial mechanism enabling BioNTech to achieve complete control. The legal merger ensures the Mainz-based pharmaceutical giant secures access to 100% of the business operations, even if not all shares are immediately tendered during the ongoing exchange offer. This swap arrangement remains open until December 3, 2025, allowing investors to exchange their holdings for BioNTech American Depositary Shares (ADSs).

Financial Position Strengthened by Patent Resolution

An examination of the company's financial standing reveals a significant discrepancy that investors should note. While the half-year report dated June 30, 2025, showed liquid funds of €392.7 million, this figure fails to reflect the company's current financial strength.

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

The substantial cash injection resulting from summer patent settlements hasn't yet appeared in those financial statements. During August, CureVac, BioNTech, and GSK resolved their global legal disputes, generating a considerable financial inflow:
* BioNTech provided an upfront payment totaling $370 million
* GSK contributed an additional $50 million related to licensing fees

This capital infusion served as the primary catalyst for the acquisition, eliminating debilitating litigation risks and clearing the path for the takeover agreement.

Market Dynamics and Shareholder Options

Current trading patterns in CureVac shares reflect typical late-stage acquisition behavior. Volatility has diminished as the stock price increasingly correlates with the exchange ratio established in BioNTech's offer. The transaction values CureVac's equity at approximately $1.25 billion, translating to an implied value of about $5.46 per share.

With patent disputes settled and financial reserves bolstered, tomorrow's shareholder vote is expected to mark the conclusion of CureVac's era as an independent entity. For remaining shareholders, the meeting's agenda delivers a clear message: the structural pathway to subsidiary status has been firmly established.