CureVac’s Stock Market Journey Concludes Following BioNTech Acquisition

CureVac NL0015436031

The independent public trading story for CureVac has reached its conclusion. Following its comprehensive acquisition by BioNTech, the suspension of share trading this week marks the beginning of the end for the company's Nasdaq listing. This move closes the chapter on CureVac as a standalone publicly traded entity, a journey that saw its share price plummet more than 95% from its historical peaks.

The acquisition process, which commenced in mid-2025 with BioNTech's formal exchange offer, has now been finalized. By the offer's expiration on December 18, 2025, approximately 86.75% of CureVac shares had been tendered. BioNTech subsequently acquired the remaining equity through a compulsory purchase mechanism as part of the post-offer restructuring.

Key outcomes of the transaction include:
* BioNTech now exercises complete control over 100% of CureVac's business operations.
* The new supervisory board of CureVac SE is composed of Prof. Ugur Sahin, Sierk Poetting, and Ramón Zapata-Gomez.
* All former CureVac board members have voluntarily stepped down from their positions.

Legally, the entity CureVac has been replaced by CureVac Merger B.V. via a merger, with BioNTech holding full ownership of the operational unit.

Trading Halted and Delisting Initiated

CureVac confirmed this Monday that the restructuring subsequent to BioNTech's takeover bid has been completed. This was based on the share exchange offer for all outstanding common stock.

The immediate financial market consequences are:
* No public shareholders of CureVac remain.
* Trading in the stock was suspended prior to the U.S. market open on Monday.
* The company has instructed Nasdaq to file a Form 25 with the SEC to initiate the delisting.
* The official delisting from the Nasdaq is scheduled to become effective on January 16, 2026.

Derivatives and Regulatory Wind-Down

The acquisition's impact extends to related securities. The MIAX Exchange Group has announced it will remove CureVac from the MIAX Options Exchange, MIAX Pearl Options Exchange, MIAX Emerald Options Exchange, and MIAX Sapphire Options Exchange as of this Wednesday.

All existing Good-'Til-Cancelled (GTC) orders for CureVac options were purged from the order books at Tuesday's market close.

Regarding regulatory obligations, CureVac Merger B.V. plans to file a Form 15 with the SEC following the effectiveness of the Form 25. This step will terminate its registration under Section 12(g) of the Securities Exchange Act and simultaneously suspend its reporting duties under Sections 13 and 15(d).

The company states that the legal requirement to publish certain reports ceases immediately upon the Form 15 filing. Full deregistration is expected to take effect 90 days thereafter.

Strategic Integration and a Volatile Market Legacy

From a strategic standpoint, the takeover is designed to augment BioNTech's capabilities in mRNA design, formulations, and manufacturing. For now, CureVac will maintain its existing organizational and business processes while BioNTech conducts a strategic, operational, and scientific review to determine the future structure and pipeline alignment.

This outcome brings a definitive close to the stock market narrative for CureVac, which began with a high-profile IPO in August 2020 during the intense COVID-19 vaccine race. Its journey ends with a loss exceeding 95% from its peak valuation, a stark reminder of the inherent volatility in biotechnology equities and the challenging post-pandemic landscape for mRNA-focused companies.