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Shares of CureVac BV (NASDAQ:CVAC) surged 10.2% to $4.26 Tuesday afternoon after the German-American biotech firm reported first-quarter 2025 results and a pipeline update.
What To Know: The company posted a narrowed operating loss of €54.7 million, down from €73.3 million a year earlier, as strategic restructuring and workforce reductions initiated in mid-2024 took effect.
Despite a drop in revenue to €0.9 million, down from €12.4 million, CureVac reaffirmed a cash position of €438 million, expected to fund operations through 2028.
CEO Dr. Alexander Zehnder emphasized momentum in oncology, highlighting FDA clearance for a U.S. lung cancer trial and full enrollment in a glioblastoma study, with data expected in the second half of 2025.
CureVac is also advancing a urinary tract infection vaccine and defending key mRNA patents in European and U.S. courts. While R&D costs rose, they were offset by reduced administrative expenses and a shift away from manufacturing-related costs.
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According to data from Benzinga Pro, CVAC has a 52-week high of $5.28 and a 52-week low of $2.37.
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Posted In: CVAC
