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CureVac Reports Second Quarter and First Half 2024 Financial Results and Business Developments

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CureVac has released its financial results for Q2 and the first half of 2024, highlighting key developments in its business strategy. The biopharma company closed a new licensing agreement with GSK worth up to €1.45 billion, with €400 million received upfront. This partnership supports CureVac’s mRNA platform. In a strategic move, CureVac plans to cut its workforce by around 30% by the end of 2024 to focus on oncology and infectious diseases.

The company billed GSK €10 million for a milestone in the avian flu program. CureVac also commenced dosing in Phase 1 Part B of its glioblastoma study and bolstered its Supervisory Board with two new appointments. CFO Pierre Kemula’s term will end on October 31, 2024, with a transition plan in place.

Financially, CureVac ended June 2024 with €202.5 million in cash, excluding the €400 million from GSK. Revenues for Q2 were €14.4 million, up significantly year-over-year, while operating expenses led to a €73.6 million loss.

R. P.

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