CureVac: Patent Win Notable, But Won't Answer More Fundamental Questions

Mar. 28, 2025 3:24 PM ETCureVac N.V. (CVAC) StockBNTX, CVAC
(12min)

Summary

  • CureVac N.V.'s restructuring deal with GSK and workforce reduction suggest financial struggles, with net losses reported from 2020-2023; however, the GSK deal secures funding until 2028.
  • CVAC stock received a boost yesterday after winning a key patent dispute against BioNTech, potentially leading to significant damages if infringement is confirmed in 2025.
  • Despite the legal win, CureVac's pipeline remains weak, with only one wholly-owned asset in clinical development, raising concerns about its long-term viability.
  • Upgrading CureVac stock from "Sell" to "Hold" due to the potential financial windfall from the patent dispute, though fundamental issues remain unresolved.

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Investment Overview

I last covered CureVac N.V. (NASDAQ:CVAC), a Tübingen, Germany-based biotech in July last year, after the company agreed to hand over full rights to its messenger-RNA candidate vaccines for influenza and COVID-19, including combinations

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This article was written by

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Edmund Ingham is a biotech consultant. He has been covering biotech, healthcare, and pharma for over 5 years, and has put together detailed reports of over 1,000 companies. He leads the investing group Haggerston BioHealth.

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