Brief: Curevac Says Corporate Redesign On Track with 30% Workforce Reduction, Posts Q3 Results

CureVac NV

12/11/2024 12:12

Nov 12 (Reuters) - CUREVAC NV  5CV.DE :
    * CUREVAC ANNOUNCES FINANCIAL RESULTS FOR THE THIRD QUARTER
AND
FIRST NINE MONTHS OF 2024 AND PROVIDES BUSINESS UPDATE
    * EUR 400 MILLION UPFRONT PAYMENT FROM RESTRUCTURED GSK
COLLABORATION REFLECTED IN FINANCIALS, CASH POSITION INCREASED
TO EUR 551 MILLION; EXPECTED CASH RUNWAY RE-AFFIRMED INTO 2028
    * APPOINTMENT AXEL MALKOMES AS NEW CFO EFFECTIVE NOVEMBER 11
    * CORPORATE REDESIGN ON TRACK WITH 30% WORKFORCE REDUCTION,
EXPECTED TO YIELD SIGNIFICANT ANNUAL COST SAVINGS FROM 2025
ONWARDS AND INCREASE OPERATIONAL AGILITY
    * OPERATING PROFIT AMOUNTED TO EUR 368.4 MILLION AND EUR
221.4
MILLION FOR THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2024,
RESPECTIVELY
    * NET FINANCIAL RESULT FOR THREE AND NINE MONTHS ENDED
SEPTEMBER
30, 2024, AMOUNTED TO EUR 2.2 MILLION AND EUR 8.0 MILLION
    * PRE-TAX PROFIT WAS EUR 370.6 MILLION AND EUR 229.4 MILLION
FOR
THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2024

Source text:  ID:nEQ4dDC9va 
Further company coverage:  5CV.DE 

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