Brief: Curevac Q4 Net Financial Result At EUR 1.5 Mln

CureVac NV

24/04/2024 12:10

April 24 (Reuters) - CUREVAC NV  5CV.DE :
    * 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

Source text for Eikon:  ID:nEQ1wDXSLa 
Further company coverage:  5CV.DE 

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