FSE$CVAC
CureVac NV · Q2 2025 earnings
Q2 2025 earnings · · Before market open · Investor relations
Briefing
CureVac Q2 2025: revenue falls to €1.2M as BioNTech acquisition and pipeline pivot continue
CureVac N.V. reported unaudited interim results for the three and six months ended June 30, 2025. Second-quarter revenue was €1.2 million, down sharply from €14.4 million in Q2 2024, reflecting the wind-down of legacy COVID-19 vaccine collaboration revenues. The company posted a Q2 net loss of €59.6 million (€0.64 per share) versus a €72.5 million loss a year ago. R&D expenses were €34.9 million and general and administrative expenses €25.4 million, including costs related to the pending BioNTech SE acquisition announced in June 2025 for approximately $1.25 billion. Six-month net loss was €111.6 million on revenue of €2.1 million. CureVac is pivoting toward mRNA-based prophylactic vaccines including a UTI vaccine candidate, while awaiting completion of the BioNTech transaction.
- Q2 revenue €1.2M vs €14.4M prior year as legacy collaboration revenues declined.
- Q2 net loss €59.6M (€0.64/share); H1 net loss €111.6M on €2.1M revenue.
- R&D €34.9M and G&A €25.4M in Q2, including BioNTech deal-related costs.
- BioNTech acquisition agreement valued at ~$1.25B announced June 2025.
- Pipeline focus shifting to mRNA prophylactic vaccines including UTI candidate.
Headline financials
Revenue & EPS history
CureVac · Revenue · Quarterly
€1.25M
Revenue by segment
CureVac · €1.25M total across 2 segments · Q2 2025
- CRISPR collaboration (Switzerland)€1.06M—85.1%
- GSK collaboration (Belgium)€186K—14.9%
Forward guidance
CureVac's pending acquisition by BioNTech SE (~$1.25B consideration with collar mechanism) is expected to close subject to regulatory approvals, reshaping the company's standalone outlook.
Tailwinds
- BioNTech transaction provides exit path and validates mRNA platform
- UTI vaccine candidate targets large unmet need with mRNA technology fit
Headwinds
- Revenue collapsed as legacy COVID collaboration wound down
- Continued heavy R&D and G&A spend drove €59.6M quarterly loss
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 14 quarterly earnings reports · overlaid with Q2 2025
+1.1%
Avg return
Earnings day
+0.4%
Avg return
5 days after
+5.3%
Avg return
30 days after
53%
10 / 19 earnings
Positive
+12.9%
Q3 2020
Best reaction
-11.2%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | — | — | — | |
| Q3 2025 | -1.7% | +5.8% | -16.0% | |
| Q2 2025 | -0.2% | -0.9% | -3.1% | |
| Q1 2025 | +4.9% | +9.5% | +31.8% | |
| Q4 2024 | -4.0% | +19.5% | +28.8% | |
| Q3 2024 | -1.4% | -8.7% | +15.0% | |
| Q1 2024 | -5.6% | -7.6% | -17.3% | |
| Q4 2023 | -11.2% | -2.4% | +54.3% | |
| Q3 2023 | +0.4% | +1.5% | +4.5% | |
| Q2 2023 | -5.3% | -3.7% | -15.6% | |
| Q1 2023 | +5.5% | +2.4% | +19.1% | |
| Q4 2022 | -5.3% | -4.0% | +23.1% | |
| Q3 2022 | +5.3% | -1.4% | -15.4% | |
| Q2 2022 | -8.3% | -14.0% | -27.3% | |
| Q1 2022 | +2.2% | +1.9% | -20.9% | |
| Q4 2021 | +6.9% | +8.1% | +17.7% | |
| Q3 2021 | +6.0% | — | — | |
| Q2 2021 | +12.7% | — | — | |
| Q4 2020 | +6.5% | — | — | |
| Q3 2020 | +12.9% | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — | |
| Q4 2019 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q1 2019 | — | — | — |
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