CureVac’s Stock Market Journey Concludes with BioNTech Acquisition

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The independent story of CureVac as a publicly traded company has reached its conclusion. Following years as a standalone contender in the mRNA field, its investment narrative is now definitively over, replaced by a clear wind-down scenario. This follows the finalization of its acquisition by rival BioNTech, a move with significant implications for remaining shareholders.

This transaction marks the end of a prolonged rivalry within the German mRNA sector. CureVac and BioNTech were long viewed as direct competitors vying for technological leadership, a race that intensified during the COVID-19 pandemic and was decisively won by BioNTech.

For BioNTech, the strategic rationale centers on several key gains:
* Consolidating a broader portfolio of mRNA patents and intellectual property
* Acquiring CureVac's specific expertise in mRNA formulation technologies
* Bolstering its own development pipeline, with a particular focus on oncology

Prior to the acquisition's completion, the two firms settled their ongoing patent disputes, removing legal obstacles and paving the way for smoother integration.

Acquisition Finalized, Squeeze-Out Initiated

BioNTech has officially closed its takeover of CureVac after the additional acceptance period expired. Recent filings show that approximately 195.34 million CureVac shares were tendered, representing about 86.75% of the outstanding share capital.

Holding this commanding majority enables the next phase: BioNTech has initiated a squeeze-out procedure to compulsorily acquire the remaining roughly 13.25% of shares. The company anticipates completing this mandatory compensation process for minority shareholders by January 2026.

The stock's recent decline below the €3.60 level reflects the market's new paradigm, where the equity is effectively tethered to the final takeover terms. Speculative capital has exited, trading liquidity has noticeably diminished, and focus has shifted entirely from CureVac's future prospects to the legal and technical steps preceding its full delisting.

Timeline, Delisting, and Technical Context

With the takeover executed, CureVac's withdrawal from the Nasdaq is imminent. For shareholders who have not yet tendered their holdings, the path forward is clearly defined:
* By January 2026: The squeeze-out for remaining shares is expected to be executed.
* Post-Delisting: Any outstanding positions will be converted into a cash settlement at the legally mandated offer price under Dutch law.

Trading volume in the stock is likely to diminish further in the coming days and weeks. Traditional technical indicators have already lost most of their relevance. The share price currently trades approximately one-fifth below its 50-day moving average, while the Relative Strength Index sits at 37.9 in the lower neutral zone. However, these signals are now largely inconsequential—valuation is driven almost exclusively by the final settlement price and minimal arbitrage spreads, not by trend or momentum analysis.

For long-term CureVac investors, this closes a chapter of extreme volatility. The shares once commanded far higher valuations during peak vaccine enthusiasm but are now exiting the public market at a level that reflects BioNTech's strategic asset valuation rather than an independent commercial success story. Previous disclosures regarding CureVac's liquidity runway—most recently cited in Q3 data as extending into 2028—are now practically moot, as its financial standing will be fully absorbed into BioNTech's balance sheet.

Upon completion of the squeeze-out and delisting, CureVac will cease to exist as a standalone market investment. The former speculation on an independent recovery is permanently replaced by a clearly defined cash exit.