CureVac’s Stock Market Exit Marks End of an Era for mRNA Pioneer

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The independent public listing of German biotech firm CureVac has come to a close. As of Tuesday, January 6, 2026, trading in its shares on the Nasdaq has been suspended, culminating a complete acquisition by its larger peer, BioNTech SE. This move consolidates two of the country's most prominent mRNA technology developers under a single corporate umbrella.

The suspension follows the finalization of a corporate restructuring that grants BioNTech full control over 100% of CureVac's shares and business operations. The formal catalyst was the filing of a Form 25—the official Notification of Removal from Listing—with the U.S. Securities and Exchange Commission (SEC). In response, the Nasdaq halted trading in CureVac stock (Ticker: CVAC) before market open. The official delisting is scheduled to take effect ten days from now, on January 16, 2026.

This concludes a two-stage takeover. BioNTech successfully completed its public exchange offer on December 18, 2025, securing approximately 86.75% of CureVac's outstanding shares. The reorganization enacted today absorbs the remaining minority interests, eliminating all freely tradable CureVac stock from the market.

The share price trajectory in recent sessions underscored the pressure on the equity. Over the past seven days, the stock declined by about 13%, bringing its year-to-date loss to roughly 17%. For investors, this price action is now solely of historical relevance.

Corporate and Analytical Consequences

The transaction was executed via a merger. The former CureVac N.V. entity has been absorbed into CureVac Merger B.V., which continues as the surviving company and is now wholly owned by BioNTech. Consequently, CureVac has effectively vanished as an independently listed holding entity.

The analytical community is reacting in kind. Independent research firm AlphaValue announced on January 6 that it is terminating its coverage of CureVac stock. The security is no longer considered a standalone investment vehicle but rather a component of BioNTech.

On the regulatory front, the company is preparing its next step. Following the Form 25 filing, it intends to submit a Form 15 to the SEC. This document will terminate CureVac's ongoing reporting obligations under the Securities Exchange Act of 1934, freeing it from future requirements to publish financial reports and removing it from the public disclosure radar.

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Strategic Rationale: Unifying mRNA Capabilities

The acquisition, valued at around $1.25 billion when the definitive agreement was announced in June 2025, combines two leading German mRNA pioneers. A primary driver for BioNTech was gaining access to CureVac's oncology pipeline and patent portfolio.

CureVac's journey as a public company has been volatile. Following a high-profile initial public offering in 2020, the firm was unable to commercially realize its first COVID-19 vaccine project as hoped. However, its underlying technology and intellectual property remained strategically valuable.

The takeover also resolves ongoing patent disputes between the two companies. Furthermore, BioNTech strengthens its position in mRNA oncology, particularly in cancer vaccines, by integrating CureVac's research into its own development platform.

For former CVAC shareholders, this marks the definitive end of the standalone listing. CureVac shares, which last traded around $4.67, will be exchanged for BioNTech stock or cashed out according to the acquisition terms.

Timeline for Final Steps

With the trading halt in place, a clear schedule for the remaining steps is now established:

• January 16, 2026: The delisting from Nasdaq becomes legally effective.
• First Quarter of 2026: The operational integration of CureVac's Tübingen site into BioNTech's global R&D network is targeted for completion.
• Approximately 90 days after Form 15 filing: The SEC deregistration will permanently end CureVac's existence as a publicly reporting entity.

Former CureVac investors who have tendered their shares or been cashed out via a squeeze-out are now fully aligned with BioNTech (BNTX). Their investment performance will no longer be tied to CVAC but will depend on BioNTech's ability to develop and monetize the expanded mRNA portfolio, especially in immunotherapies and oncology.