The final chapter for CureVac as a publicly traded company is now being written. BioNTech formally completed its acquisition of the vaccine developer on December 18, 2025, securing controlling interest. This move places the termination of CureVac’s stock exchange listing firmly on the horizon, with the shares effectively transitioning out of regular market trading.
A Dominant Stake and Clear Path Forward
The cornerstone of the deal was the result of the takeover and share exchange offer. During the acceptance period, approximately 86.75% of CureVac’s shares were tendered. This outcome grants BioNTech a decisive and commanding majority stake.
Consequently, the remaining free float now plays a marginal role. The high acceptance rate indicates that market participants largely anticipated a smooth integration, with no significant shareholder resistance materializing.
Forced Redemption Scheduled for Early 2026
With the legal closing complete, the subsequent steps are clearly defined. BioNTech has announced its intention to compulsorily acquire the outstanding shares. A squeeze-out of the remaining minority shareholders is explicitly scheduled for January 2026.
This timeline has direct implications for current shareholders:
- Transaction Close: The acquisition was finalized on December 18, 2025.
- Resulting Ownership: BioNTech now holds roughly 86.75% of CureVac.
- Immediate Next Step: A mandatory cash compensation for remaining shareholders.
- Final Deadline: The squeeze-out procedure is set for implementation in January 2026.
For investors still holding positions, this means their remaining stake will be settled through the mandatory compensation process in the near future, not through open market trading. The window for regular stock exchange activity has become extremely narrow.
Should investors sell immediately? Or is it worth buying CureVac?
Market pricing already reflects this impending departure. The stock recently closed at €3.65, representing a decline of about 24% from its 52-week high, while volatility has remained elevated in recent weeks.
Operational Independence for Now
Despite the formal change in control, CureVac will not immediately vanish as an operational entity. The company is initially expected to continue its work independently on a day-to-day basis. However, this does not alter the reality for its equity: the strategic focus is now squarely on completing the acquisition and its administrative execution.
For the stock, it is clear that future developments at CureVac—whether in research or product pipelines—will no longer be visible as a standalone investment narrative but will instead be absorbed within BioNTech’s broader story.
Market Consequences and Diminishing Liquidity
The substantial tender acceptance leaves only a small portion of shares in free float. As a result, liquidity for CureVac’s stock is likely to continue evaporating until the squeeze-out is completed. With January 2026 set as a clearly communicated target, a firm end date for the listing is now in place.
In practical terms, the equity has transitioned into a holding position with a defined timeline, where the exit scenario is predetermined via the compulsory acquisition. The decisive milestone is now the formal execution of the squeeze-out in January, which will mark CureVac’s final delisting and its complete integration under the BioNTech corporate umbrella.
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