Brief: CureVac Second Quarter Revenues Amounted To 14.4 Mln Euros

CureVac NV

15/08/2024 12:17

Aug 15 (Reuters) - CUREVAC NV  5CV.DE :
    * CUREVAC ANNOUNCES FINANCIAL RESULTS FOR THE SECOND QUARTER
AND
FIRST HALF OF 2024 AND PROVIDES BUSINESS UPDATE
    * CLOSED NEW LICENSING AGREEMENT WITH GSK WORTH UP TO EUR
1.45
BILLION, INCLUDING EUR 400 MILLION UPFRONT
    * CHIEF FINANCIAL OFFICER, PIERRE KEMULA, TO STEP DOWN AT
END OF
HIS TERM OCTOBER 31, 2024; SEARCH FOR A REPLACEMENT ONGOING WITH
TRANSITION PLAN IN PLACE
    * CASH AND CASH EQUIVALENTS POSITION OF EUR 202.5 MILLION AS
OF
JUNE 30, 2024
    * INITIATED STRATEGIC WORKFORCE REDUCTION OF AROUND 30% BY
END OF
2024, OPTIMIZING BUSINESS TO FOCUS ON HIGH-VALUE OPPORTUNITIES
IN ONCOLOGY, INFECTIOUS DISEASES AND OTHER AREAS
    * REVENUES AMOUNTED TO EUR 14.4 MILLION AND EUR 26.8 MILLION
FOR
THREE AND SIX MONTHS ENDED JUNE 30, 2024
    * OPERATING LOSS AMOUNTED TO EUR 73.6 MILLION AND EUR 146.9
MILLION FOR THREE AND SIX MONTHS ENDED JUNE 30, 2024
    * CUREVAC EXPECTS OPERATIONAL EXPENSES TO DECREASE BY MORE
THAN
30% FROM 2025 ONWARD DUE TO RESTRUCTURING
    * COMPANY EXPECTS TO PROVIDE ADDITIONAL FINANCIAL AND
STRATEGIC
UPDATES DURING Q3 EARNINGS CALL IN NOVEMBER 2024
    * PRE-TAX LOSS WAS EUR 71.2 MILLION AND EUR 141.1 MILLION
FOR
THREE AND SIX MONTHS ENDED JUNE 30, 2024
    * NET FINANCIAL RESULT FOR THREE AND SIX MONTHS ENDED
AMOUNTED TO
EUR 2.4 MILLION AND EUR 5.8 MILLION, A DECREASE OF EUR 2.0
MILLION AND EUR 1.6 MILLION

Source text for Eikon:  ID:nEQ1vrlkFa 
Further company coverage:  5CV.DE 

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