CureVac to Cease Trading Following BioNTech Acquisition

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The publicly traded chapter of biopharmaceutical firm CureVac is drawing to a close. The company's shares are scheduled for removal from the Nasdaq Global Market in the coming days, marking the final administrative step in its complete acquisition by rival BioNTech SE. The takeover, finalized in early January, transforms the former mRNA pioneer into a wholly-owned subsidiary of the Mainz-based biotechnology group.

This delisting represents the concluding phase of a transaction first announced in June 2025. Structured as an all-stock deal valued at approximately $1.25 billion, BioNTech's offer successfully garnered acceptance from holders of more than 86% of CureVac shares by December 18, 2025. Following this mandatory tender offer, BioNTech initiated a squeeze-out procedure in January 2026 to compulsorily acquire the remaining outstanding shares.

With no publicly held CureVac equity remaining, the company formally requested a trading halt and filed a Form 25 with the U.S. Securities and Exchange Commission (SEC) on January 6 to terminate its listing. A subsequent Form 15 filing will be made to deregister the shares and suspend ongoing SEC reporting obligations.

Strategic Rationale and Shareholder Impact

Analysts view the merger as a significant consolidation within the European mRNA landscape. CureVac, long considered an early technological leader, brings complementary expertise to BioNTech. The union is expected to bolster BioNTech's capabilities across mRNA development, manufacturing, and notably, its oncology pipeline. Furthermore, the deal resolves a protracted patent dispute between the two entities concerning foundational mRNA technologies used in COVID-19 vaccines.

For CureVac shareholders who accepted the offer, the transaction involved an exchange of each CureVac share for BioNTech American Depositary Shares (ADS). The implied value was approximately $5.46 per CureVac share at the deal's announcement, representing a notable premium to the prevailing market price at that time. These investors now have a direct stake in BioNTech's future performance. CureVac's research and manufacturing site in Tübingen will be integrated into BioNTech's existing operational framework.

Looking Ahead for Investors

Effective mid-January, all trading activity for CureVac stock under the ticker symbol CVAC will permanently cease. The investment narrative now shifts entirely from evaluating CureVac as a standalone entity to assessing its contribution within the larger BioNTech organization.

Market participants will likely turn their attention to BioNTech's fourth-quarter 2025 update, expected by the end of February, for initial insights into the integration progress and potential synergy realization from the CureVac acquisition. The performance of the former CureVac shareholders' investment is now intrinsically linked to BioNTech's broader business trajectory and its ability to successfully absorb its new subsidiary.