The independent journey of CureVac as a publicly traded company has reached its conclusion. Following the expiration of the acceptance period, BioNTech has secured a commanding majority stake and is now initiating the final steps of the takeover. This development signals an inevitable exit from the stock exchange for remaining shareholders, a transition underscored by an immediate management overhaul at CureVac’s Tübingen headquarters.
A New Era Under BioNTech’s Control
The acquisition by its Mainz-based rival, BioNTech, is now formally complete. The facts were cemented after the extended acceptance deadline on December 18, 2025. Approximately 195.3 million CureVac shares were tendered, representing roughly 86.75% of the company’s outstanding share capital.
This result allows BioNTech to move forward with full control, having comfortably surpassed all necessary thresholds. The transaction is officially closed, and the process of integrating the Tübingen biotech firm has commenced.
Leadership Replaced Without Delay
The shift in power is already visible in the executive suite. CureVac’s previous board of directors has resigned. Its positions have been filled by senior BioNTech executives, including CEO Ugur Sahin. This decisive personnel change confirms that CureVac will operate as a subsidiary, with all strategic authority now residing in Mainz.
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The Countdown to Delisting
A strict timeline now governs the remaining weeks. BioNTech has announced it will acquire the outstanding minority shares through a squeeze-out procedure. This compulsory acquisition of remaining stockholders’ shares is scheduled for completion in January 2026.
The consequences for the stock are direct and sequential:
* Trading Halt: The delisting from the Nasdaq exchange is imminent.
* SEC Deregistration: Following the squeeze-out, the company will be deregistered with the U.S. Securities and Exchange Commission.
* End of Reporting: Once removed from public markets, CureVac will no longer be obligated to issue regular financial reports.
Market Speculation Fades
CureVac’s shares have lost their independent market narrative. The stock’s former volatility has been replaced by a static alignment with the takeover terms. This is reflected in its price action: shares closed at 3.53 euros on Friday, marking a weekly decline of more than 17%. The share price is now primarily tied to the final settlement details and the exchange ratio.
The equity story of CureVac as a standalone investment is over. The focus now shifts entirely to the technical process of settling the remaining shareholdings and folding CureVac’s mRNA technology platforms into the BioNTech portfolio ahead of the final stock market departure in January.
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