TÜBINGEN, GERMANY and BOSTON, MA – CureVac N.V. (NASDAQ:CVAC), a biopharmaceutical company specializing in messenger RNA (mRNA) technology, has announced the schedule for its upcoming patent litigations with Pfizer/BioNTech across multiple jurisdictions, including the United States, the United Kingdom, and Germany.
The U.S. trial is slated for March 3, 2025, in the Eastern District of Virginia. This follows the withdrawal of a recommendation to stay proceedings for 10 U.S. patents after CureVac and Acuitas Therapeutics settled in April 2024. Acuitas has been granted licenses to several patents and acknowledges CureVac as the sole owner of the disputed patents, leading to the withdrawal of three out of four contested U.S. patents from the litigation against Pfizer/BioNTech.
In Europe, the European Patent Office is set to decide on the validity of the patent EP 3 708 668 B1, related to split poly-A tail technology, on March 25, 2025. The German litigation will also reflect this development, with two utility models equivalent to the withdrawn U.S. patents also being pulled from the proceedings. A separate German court hearing for the patent EP 4 023 755 B1 is scheduled for September 10, 2024.
Additionally, a UK trial commenced on July 10, 2024, concerning the validity of CureVac's patents EP 3 708 668 B1 and EP 4 023 755 B1. The judgement is anticipated later in the year. CureVac has counterclaimed for infringement in this case.
CureVac, founded in 2000, has been at the forefront of mRNA technology development, which became globally recognized during the COVID-19 pandemic. The company continues to innovate in the field, expanding its applications to cancer vaccines and other therapeutic areas.
This information is based on a press release statement.
In other recent news, GSK (LON:GSK) has acquired the mRNA vaccine rights from CureVac in a deal valued at €1.05 billion. This acquisition allows GSK to develop and manufacture vaccine candidates for influenza and COVID-19 using mRNA technology. The agreement, which is an evolution of a partnership initiated in 2020, includes an upfront payment of €400 million to CureVac, with potential future milestone payments and royalties.
On the other side, CureVac has detailed its strategic initiatives and clinical progress in a recent earnings call. Despite a decrease in full-year revenues due to lower collaboration income, the company has made progress in clinical trials, especially in infectious diseases and oncology. CureVac is also collaborating with MD Anderson to develop mRNA cancer vaccines.
GSK's acquisition of CureVac's mRNA vaccine rights underscores the potential of mRNA technology in vaccine development. Meanwhile, CureVac's focus on efficiency and cost reduction, as well as its progress in clinical trials, highlights its strategic direction for the upcoming years.
InvestingPro Insights
As CureVac N.V. (NASDAQ:CVAC) advances through its patent litigation schedule, the financial landscape of the company provides a nuanced backdrop. According to InvestingPro data, CureVac's market capitalization stands at approximately $697.55 million, reflecting the market's current valuation of the company. In terms of profitability, the company's price-to-earnings (P/E) ratio is notably negative at -2.32, with an adjusted P/E ratio for the last twelve months as of Q1 2024 at -2.36, indicating that the company is not currently generating profits.
InvestingPro Tips highlight two critical aspects of CureVac's financial health. Firstly, the company holds more cash than debt on its balance sheet, providing a cushion for operational flexibility and potential strategic initiatives. Secondly, analysts have expressed concerns as they have revised their earnings downwards for the upcoming period, which may reflect the anticipation of continued challenges in achieving profitability. Moreover, the company is identified as quickly burning through its cash reserves, which could be a point of consideration for investors monitoring the company's ability to sustain its research and development efforts amidst the ongoing litigations.
For investors seeking a deeper analysis of CureVac and additional insights into the company's financial position and future prospects, InvestingPro offers further tips. There are 10 more InvestingPro Tips available, which can be accessed by visiting the dedicated CureVac page on Investing.com. For those interested in a comprehensive InvestingPro experience, use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
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