PRESS RELEASE : CureVac Announces Financial -3-

was partially offset by other operating income driven by higher cost reimbursements received from the Coalition for 
Epidemic Preparedness Innovations (CEPI) and the German Federal Ministry of Education and Research (BMBF). For the 
twelve months ended December 31, 2020, the increased operating loss was mainly driven by higher research and 
development costs, primarily due to high costs for CVnCoV R&D activities, including research material manufacturing 
expenses, which began in 2020. This was partially offset by recognition of the EUR33.1 million in contract liabilities 
upon termination of the Eli Lilly collaboration. In addition, the increase in R&D costs was partially offset by a 
decrease in cost of sales during both of these periods in 2020 as compared to 2019 due to lower set-up activities and 
lower product manufacturing for our collaboration partners. 
Financial Result 
Financial result was EUR-10.7 million and EUR-20.0 million for the three and twelve months ended December 31, 2020, 
respectively, representing a decrease of EUR-9.9 million and EUR-19.4 million from EUR-0.8 million and EUR-0.6 million for the 
same period in 2019, respectively. Financial result for the twelve months ended December 31, 2020, contains mainly 
interest for the convertible loans, which were fully repaid, including interest, in August 2020, negative interests on 
cash which is being held in liquid funds for use in our CVnCoV R&D and manufacturing activities and a negative impact 
of the FX mainly in the fourth quarter of the year. 
Earnings before Taxes (EBT) 
Earnings before Taxes (EBT) was EUR-57.3 million and EUR-129.8 million for three and twelve months ended December 31, 2020, 
compared to Earnings before Taxes of EUR-35.9 million and EUR-100.1 million in the same respective periods of 2019. 
Conference Call and Webcast 
CureVac will host an analyst and investor webcast and conference call on Thursday, April 15, 2021 at 4:00 p.m. CET / 
10:00 a.m. EST. The live conference call dial-in details and webcast link can be accessed via the Investor Relations 
section of the CureVac homepage at https://www.curevac.com/en/newsroom/events/ 
Corresponding presentation slides will be posted shortly before the start of the webcast. A replay will be made 
available at this website after the event. 
About CVnCoV 
CureVac began development of mRNA-based COVID-19 vaccine candidates in January 2020. The vaccine candidate chosen for 
first clinical development, CVnCoV, is an optimized, non-chemically modified mRNA, encoding the prefusion stabilized 
full-length spike protein of the SARS-CoV-2 virus, and formulated within Lipid Nanoparticles (LNPs). Phase 1 and 2a 
clinical trials of CVnCoV began in June and September 2020, respectively. Phase 1 interim data reported in November 
2020 showed that CVnCoV was generally well tolerated across all tested doses and induced strong antibody responses in 
addition to first indication of T cell activation. The quality of the immune response was comparable to recovered 
COVID-19 patients, closely mimicking the immune response after natural COVID-19 infection. In December 2020, CureVac 
initiated a pivotal Phase 2b/3, the HERALD study, with a 12µg dose of CVnCoV. In February 2021, CureVac initiated a 
rolling submission with the European Medicines Agency (EMA) for CVnCoV. 
 
About CureVac 
CureVac is a global biopharmaceutical company in the field of messenger RNA (mRNA) technology, with more than 20 years 
of expertise in developing and optimizing the versatile biological molecule for medical purposes. The principle of 
CureVac's proprietary technology is the use of non-chemically modified mRNA as a data carrier to instruct the human 
body to produce its own proteins capable of fighting a broad range of diseases. Based on its proprietary technology, 
the Company has built a deep clinical pipeline across the areas of prophylactic vaccines, cancer therapies, antibody 
therapies, and the treatment of rare diseases. CureVac had its initial public offering on the New York Nasdaq in August 
2020. It is headquartered in Tübingen, Germany, and employs more than 600 people at its sites in Tübingen, Frankfurt, 
and Boston, USA. Further information can be found at www.curevac.com. 
CureVac Media Contact 
Thorsten Schüller, Vice President Communications 
CureVac, Tübingen, Germany 
T: [phone] 
[e-mail] 
CureVac Investor Relations Contact 
Dr. Sarah Fakih, Vice President Investor Relations 
CureVac, Tübingen, Germany 
T: [phone] 
M: [phone] 
[e-mail] 
Forward-Looking Statements CureVac 
This press release contains statements that constitute "forward looking statements" as that term is defined in the 
United States Private Securities Litigation Reform Act of 1995, including statements that express the opinions, 
expectations, beliefs, plans, objectives, assumptions or projections of CureVac (the "company") regarding future events 
or future results, in contrast with statements that reflect historical facts. Examples include discussion of the 
potential efficacy of the company's vaccine and treatment candidates and the company's strategies, financing plans, 
growth opportunities and market growth. In some cases, you can identify such forward-looking statements by terminology 
such as "anticipate," "intend," "believe," "estimate," "plan," "seek," "project," or "expect," "may," "will," "would," 
"could," "potential," "intend," or "should," the negative of these terms or similar expressions. Forward-looking 
statements are based on management's current beliefs and assumptions and on information currently available to the 
company. However, these forward-looking statements are not a guarantee of the company's performance, and you should not 
place undue reliance on such statements. Forward-looking statements are subject to many risks, uncertainties and other 
variable circumstances, including negative worldwide economic conditions and ongoing instability and volatility in the 
worldwide financial markets, ability to obtain funding, ability to conduct current and future preclinical studies and 
clinical trials, the timing, expense and uncertainty of regulatory approval, reliance on third parties and 
collaboration partners, ability to commercialize products, ability to manufacture any products, possible changes in 
current and proposed legislation, regulations and governmental policies, pressures from increasing competition and 
consolidation in the company's industry, the effects of the COVID-19 pandemic on the company's business and results of 
operations, ability to manage growth, reliance on key personnel, reliance on intellectual property protection, ability 
to provide for patient safety, and fluctuations of operating results due to the effect of exchange rates or other 
factors. Such risks and uncertainties may cause the statements to be inaccurate and readers are cautioned not to place 
undue reliance on such statements. Many of these risks are outside of the company's control and could cause its actual 
results to differ materially from those it thought would occur. The forward-looking statements included in this press 
release are made only as of the date hereof. The company does not undertake, and specifically declines, any obligation 
to update any such statements or to publicly announce the results of any revisions to any such statements to reflect 
future events or developments, except as required by law. 
For further information, please reference the company's reports and documents filed with the U.S. Securities and 
Exchange Commission (SEC). You may get these documents by visiting EDGAR on the SEC website at www.sec.gov. 
Cash and Condensed Consolidated Profit and Loss Statement 
 
                            Years ended December 31, 
(in millions of EUR)              2019           2020 
                                          (unaudited) 
 
Cash and Cash Equivalents         30.7        1,322.6 
 
                            Years ended December 31,    Three Months ended December 31, 
                                  2019           2020        2019                  2020 
                                          (unaudited)                       (unaudited) 
Revenue                           17.4           48.9         6.8                   6.0 
Operating Expenses             (116.9)        (158.7)      (41.9)                (52.6) 
Operating Result                (99.5)        (109.8)      (35.1)                (46.6) 
Financial Result                 (0.6)         (20.0)       (0.8)                (10.7) 
Earnings before Taxes (EBT)    (100.1)        (129.8)      (35.9)                (57.3) ----------------------------------------------------------------------------------------------------------------------- 

2021-04-15 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de -----------------------------------------------------------------------------------------------------------------------

Language:     English 
Company:      CureVac 
              Friedrich-Miescher-Str. 15 
              72076 Tübingen 
              Germany 
EQS News ID:  1185295 
 
End of News   DGAP News Service 
=------------ 

1185295 2021-04-15

(END) Dow Jones Newswires

April 15, 2021 07:31 ET (11:31 GMT)