CureVac’s Final Chapter: Mandatory Buyout Set for January 2026

The independent story of CureVac on the public markets is drawing to a definitive close. Following its acquisition by BioNTech, the Tübingen-based mRNA pioneer is on the verge of being delisted. For remaining shareholders, the timeline is clear: a mandatory squeeze-out will be executed in January 2026, permanently removing the stock from exchange listings.

The landscape of German biotechnology has been fundamentally reshaped. BioNTech formally completed the acquisition on December 18, 2025, after securing approximately 86.75% of CureVac's outstanding shares. This move renders the remaining free float a mere formality. The stock no longer represents an independent company, as full operational control now resides with BioNTech in Mainz.

Management has already been realigned to reflect the new ownership. CureVac's former executive board has stepped down, replaced by BioNTech leadership tasked with integrating the mRNA technologies strategically. A key focus of this integration is advancing research in oncology.

The Mechanics of the Squeeze-Out

BioNTech is now proceeding with the final step: compelling the remaining minority shareholders to exit the company via a squeeze-out next month. While those who have not yet accepted the exchange offer will receive essentially the same consideration as in the public tender, a significant caveat exists. The BioNTech American Depositary Shares (ADS) received during the reorganization may be subject to a 15% Dutch withholding tax.

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

For investors still holding the stock, no strategic options remain. They are merely awaiting the formal execution of the compulsory acquisition in January 2026.

Trading Transforms to Pure Settlement

Market activity for CureVac shares has fundamentally changed. The once-volatile biotech equity has transformed into a pure settlement play. Price movement is now minimal, with the stock stabilizing near the takeover price, closing the week at USD 4.30. Trading volume has noticeably collapsed, as institutional arbitrage funds dominate the activity, speculating solely on the marginal difference to the final settlement amount.

With the squeeze-out scheduled for next month, the CureVac name will disappear from the ticker tape, marking the end of its journey as a publicly traded entity.