Curevac Q4 Net Financial Result At EUR 1.5 Mln

Apr 24, 202411:10 UTC

CUREVAC NV CVAC:

CUREVAC ANNOUNCES FINANCIAL RESULTS FOR THE FOURTH QUARTER AND FULL-YEAR 2023 AND PROVIDES BUSINESS UPDATE
CASH AND CASH EQUIVALENTS POSITION OF EUR 402.5 MILLION AS OF DECEMBER 31, 2023
CASH RUNWAY EXTENDED INTO Q4 2025 WITH ORGANIZATIONAL REDESIGN AND DESPITE PPA WIND-DOWN
REVENUES AMOUNTED TO EUR 22.6 MILLION AND EUR 53.8 MILLION FOR THREE AND TWELVE MONTHS ENDED DECEMBER 31, 2023
OPERATING LOSS AMOUNTED TO EUR 88.0 MILLION AND EUR 274.2 MILLION FOR THREE AND TWELVE MONTHS ENDED DECEMBER 31, 2023
NET FINANCIAL RESULT FOR THREE AND TWELVE MONTHS ENDED DECEMBER 31, 2023, AMOUNTED TO EUR 1.5 MILLION AND EUR 14.2 MILLION
IS IMPLEMENTING IN 2024 AN ORGANIZATIONAL REDESIGN TO STREAMLINE STRUCTURES AND REDUCE OPERATING COSTS ACROSS MOST AREAS OF COMPANY
PRE-TAX LOSS WAS EUR 86.5 MILLION AND EUR 260.0 MILLION FOR THREE AND TWELVE MONTHS ENDED DECEMBER 31, 2023
PROGRAM WAS INITIATED WITH A "VOLUNTARY LEAVER" PROGRAM, WITH AIM TO REDUCE 150 POSITIONS
INITIATED REDESIGN IS EXPECTED TO RESULT IN FINANCIAL SAVINGS FROM SECOND HALF OF 2024 ONWARDS AND EXTEND COMPANY'S CASH RUNWAY
CUREVAC AND GSK DECIDED TO END PANDEMIC PREPAREDNESS AGREEMENT JOINTLY CONCLUDED WITH FEDERAL REPUBLIC OF GERMANY IN APRIL 2022
TERMINATION WILL TAKE EFFECT ON MAY 31, 2024, WITH NO FURTHER FINANCIAL OBLIGATIONS