CureVac’s Final Chapter: BioNTech Acquisition Paves Way for Delisting

The curtain is set to fall on CureVac's tenure as a publicly traded company. Following years of high expectations and significant volatility, the mRNA specialist is now executing an orderly exit from the capital markets. With BioNTech having finalized its acquisition, the process has entered its final administrative phase, culminating in a delisting expected in early 2026.

BioNTech officially completed its purchase of CureVac N.V. on December 18, 2025, marking the end of the Tübingen-based firm's operational independence. The strategic rationale behind the deal centers on incorporating CureVac's proprietary technology and manufacturing capabilities into BioNTech's broader development pipeline, with a particular focus on oncology programs and vaccine research.

The takeover bid proved highly successful, with BioNTech securing approximately 86.75% of CureVac's outstanding shares. This overwhelming level of acceptance from shareholders indicates broad market approval of the transaction's terms and facilitates a smooth integration into the larger BioNTech corporate structure.

The Path to Squeeze-Out and Market Exit

Holding a commanding majority, BioNTech's next steps are clearly defined. Market observers now anticipate a standard squeeze-out procedure for the remaining minority shareholders.

The key milestones are as follows:

• Compulsory Acquisition: BioNTech is expected to forcibly acquire the remaining shares, likely in January 2026.
• Reorganization and Delisting: Following this structural measure, CureVac's securities will be permanently removed from public trading.
• Implications for Investors: Shareholders who have not yet tendered their stock will likely receive a cash settlement. The liquidity of the shares has already diminished significantly as the delisting date approaches.

The process has transitioned from one of valuation and speculation to the technical execution of the merger's final stages.

Should investors sell immediately? Or is it worth buying CureVac?

Share Price Anchored to Takeover Terms

This procedural certainty is reflected in the market's behavior. CureVac's share price now trades within a narrow band around the acquisition price offered by BioNTech, with the typical merger arbitrage opportunity largely exhausted.

Correspondingly, chart dynamics have settled. Although the stock has underperformed its 50-day moving average over the past four weeks, it remains in positive territory on a twelve-month comparison. The Relative Strength Index (RSI), currently at 37.9, sits in the lower neutral range, underscoring the decline in trading activity.

Analysts have largely reaffirmed their existing ratings, with most issuing hold recommendations. This stance is logical, as neither substantial upside potential nor significant downward pressure outside the parameters of the takeover is anticipated.

Conclusion: Wrapping Up a Public Market Journey

The decisive actions have been taken:
* BioNTech's acquisition was finalized on December 18, 2025.
* Roughly 86.75% of shares were tendered.
* A full market exit via squeeze-out and corporate reorganization is scheduled for early 2026.
* The stock price is tightly pegged to the transaction value, leaving little room for further speculation.

This marks the end of CureVac's era on the public market, where its stock was driven by clinical trial results and mRNA-related speculation. The remaining open items pertain solely to timelines, final settlements, and the technical delisting process. Operationally, its story will now continue to be written from within BioNTech.