CureVac (CVAC) 6-K30 May 23Current report (foreign)Financial data

Company Profile

Document and Entity Information

Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2023
Document and Entity Information
Document Type	6-K
Entity Registrant Name	CureVac N.V.
Document Period End Date	Mar. 31, 2023
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001809122
Amendment Flag	false

Interim Condensed Consolidated

Interim Condensed Consolidated Statements of Operations and Other Comprehensive Income (Loss) - EUR (€) € in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Interim Condensed Consolidated Statements of Operations and Other Comprehensive Income (Loss)
Revenue	€ 7,129	€ 24,373
Cost of sales	(20,634)	(37,232)
Selling and distribution expenses	(824)	(271)
Research and development expenses	(24,251)	(10,786)
General and administrative expenses	(23,287)	(24,566)
Other operating income	2,006	33,436
Other operating expenses	(494)	(222)
Operating loss	(60,355)	(15,268)
Finance income	3,888	2,021
Finance expenses	(951)	(1,942)
Loss before income tax	(57,418)	(15,189)
Income tax benefit/ (expense)	(1)	96
Net loss for the period	(57,419)	(15,093)
Other comprehensive income (loss):
Foreign currency adjustments	19	(55)
Total comprehensive loss for the period	€ (57,400)	€ (15,148)
Net loss per share basic	€ (0.27)	€ (0.08)
Net loss per share diluted	€ (0.27)	€ (0.08)

Interim Condensed Consolidate_2

Interim Condensed Consolidated Statements of Financial Position - EUR (€) € in Thousands	Mar. 31, 2023	Dec. 31, 2022
Non-current assets
Intangible assets and goodwill	€ 30,600	€ 31,778
Property, plant and equipment	210,475	197,941
Right-of-use assets	42,688	43,761
Other assets	1,697	1,666
Deferred tax assets	1,296	1,297
Total non-current assets	286,756	276,443
Current assets
Assets held for sale	10,210	10,467
Inventories	24,678	23,989
Trade receivables	3,379	6,295
Contract assets	2,464	2,707
Other financial assets	3,069	4,487
Prepaid expenses and other assets	25,597	40,287
Cash and cash equivalents	617,519	495,797
Total current assets	686,916	584,029
Total assets	973,672	860,472
Equity
Issued capital	26,862	23,400
Capital reserve	2,050,235	1,817,287
Treasury Shares	(344)	(1,481)
Accumulated deficit	(1,363,234)	(1,305,814)
Other comprehensive income	(120)	(139)
Total equity	713,399	533,253
Non-current liabilities
Lease liabilities	36,087	37,106
Contract liabilities	72,549	72,549
Provisions	61,320	61,320
Other liabilities	19	19
Total non-current liabilities	169,975	170,994
Current liabilities
Lease liabilities	5,058	4,980
Trade and other payables	14,973	73,463
Provisions	1,334	1,922
Other liabilities	37,715	40,491
Income taxes payable	607	610
Contract liabilities	30,611	34,759
Total current liabilities	90,298	156,225
Total liabilities	260,273	327,219
Total equity and liabilities	€ 973,672	€ 860,472

Interim Condensed Consolidate_3

Interim Condensed Consolidated Statements of Changes in Shareholders' Equity - EUR (€)	Issued capital	Capital reserve	Treasury share	Accumulated deficit	Currency translation reserve	Total
Balance at the beginning at Dec. 31, 2021	€ 22,454,000	€ 1,728,658,000	€ (5,817,000)	€ (1,056,785,000)	€ (34,000)	€ 688,476,000
Net loss				(15,093,000)		(15,093,000)
Other comprehensive income (loss)					(55,000)	(55,000)
Total comprehensive income (loss)				(15,093,000)	(55,000)	(15,148,000)
Exercise of options		(4,000)				(4,000)
Share-based payments (net of taxes)		1,090,000				1,090,000
Settlement of share-based payment awards		(2,277,000)	2,721,000			444,000
Balance at the end at Mar. 31, 2022	22,454,000	1,727,467,000	(3,096,000)	(1,071,878,000)	(89,000)	674,858,000
Balance at the beginning at Dec. 31, 2022	23,400,000	1,817,287,000	(1,481,000)	(1,305,814,000)	(139,000)	533,253,000
Net loss				(57,419,000)		(57,419,000)
Other comprehensive income (loss)					19,000	19,000
Total comprehensive income (loss)				(57,419,000)	19,000	(57,400,000)
Issuance of share capital (net of transaction costs)	3,453,000	232,387,000				235,840,000
Share-based payments (net of taxes)		1,578,000				1,578,000
Settlement of share-based payment awards	9,000	(1,017,000)	1,137,000			129,000
Balance at the end at Mar. 31, 2023	€ 26,862,000	€ 2,050,235,000	€ (344,000)	€ (1,363,234,000)	€ (120,000)	€ 713,399,000

Interim Condensed Consolidate_4

Interim Condensed Consolidated Statements of Cash Flows € in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2023 EUR (€)	Mar. 31, 2022 EUR (€)
Operating activities
Loss before income tax	€ (57,418)	€ (15,189)
Adjustments to reconcile loss before tax to net cash flows
Finance income	(3,888)	(2,021)
Finance expense	950	1,942
Depreciation and impairment of property, plant and equipment and right-of-use assets	5,853	9,077
Loss on disposal of fixed assets	239
Impairment of inventory and prepayments	1,362	15,944
Share-based payment expense	1,578	2,273
Non-cash income from release of provisions	(588)	(31,858)
Working capital changes
Decrease / (increase) in assets held for sale	257
Decrease / (increase) in trade receivables and contract assets	3,159	(9,521)
Decrease / (increase) in inventory	(2,050)	14,099
Decrease / (increase) in other assets	17,229	(23,093)
(Decrease) / increase in trade and other payables, other liabilities and contract liabilities	(67,668)	(96,834)
Decrease / (increase) in deferred taxes	2
Income taxes paid	(4)
Interest received	2,034
Interest paid	(633)	(1,330)
Net cash flow (used in) operating activities	(99,586)	(136,511)
Investing activities
Purchase of property, plant and equipment	(13,028)	(16,737)
Purchase of intangible assets	(134)	(448)
Net cash flow (used in) investing activities	(13,162)	(17,185)
Financing activities
Payments on lease obligations	(1,260)	(900)
Proceeds from the issuance of shares (net of transaction costs)	235,840
Payment on / proceeds from treasury shares/exercise of options	129	440
Net cash flow provided by financing activities	234,709	(460)
Net increase (decrease) in cash and cash equivalents	121,961	(154,156)
Currency translation gains (losses) on cash and cash equivalents	(239)	895
Cash and cash equivalents, beginning of period	495,797	811,464
Cash and cash equivalents, end of period	€ 617,519	€ 658,203

Corporate Information

Corporate Information	3 Months Ended
Corporate Information	Mar. 31, 2023
Corporate Information
Corporate Information	1. Corporate Information CureVac N.V. (“CureVac” or “CV” or the “Company”) is the parent company of CureVac Group (“Group”) and, along with its subsidiaries, is a global biopharmaceutical company developing a new class of transformative medicines based on the messenger ribonucleic acid (mRNA) that has the potential to improve the lives of people. The Company is incorporated in the Netherlands and is registered in the commercial register at the Netherlands Chamber of Commerce under 77798031. The Company’s registered headquarters is Friedrich-Miescher-Strasse 15, 72076 Tuebingen, Germany. During 2021 until now, Dievini Hopp BioTech holding GmbH & Co. KG (dievini), which is an investment company dedicated to the support of companies in health and life sciences, is the largest shareholder of CureVac. Together with its related parties, dievini has held shares and voting rights in CureVac between appr. 43 – 46 % during that period. dievini is thus considered to be the de facto parent of the Group. Dietmar Hopp, Daniel Hopp and Oliver Hopp are the ultimate controlling persons (of the main shareholders) of dievini, and, therefore, control the voting and investment decisions of dievini.

Basis of preparation

Basis of preparation	3 Months Ended
Basis of preparation	Mar. 31, 2023
Basis of preparation
Basis of preparation	2. Basis of preparation The interim condensed consolidated financial statements for the three months ended March 31, 2023, have been prepared in accordance with IAS 34 Interim Financial Reporting. The interim condensed consolidated financial statements do not include all the information and disclosures required in the annual consolidated financial statements and should be read in conjunction with the Group’s annual consolidated financial statements as of December 31, 2022. The interim condensed consolidated financial statements were authorized by the Management Board for presentation to the Supervisory Board on May 22, 2023. The Group’s interim condensed consolidated financial statements are presented in Euros (“EUR”). Unless otherwise stated, amounts are rounded to thousands of Euros, except per share amounts. Due to rounding, differences may arise when individual amounts or percentages are added together. New standards, interpretations and amendments adopted by the Group The accounting policies adopted in the preparation of the interim condensed consolidated financial statements are consistent with those followed in the preparation of the Group’s annual consolidated financial statements for the year ended December 31, 2022. The new and amended standards and interpretations applied for the first time as of January 1, 2023, as disclosed in the notes to the consolidated financial statements as of December 31, 2022, had no impact on the interim condensed consolidated financial statements of the Group as of and for the three months ended March 31, 2023. The Group has not early adopted any standard, interpretation or amendment that has been issued but is not yet effective. Impact of COVID-19 and the Russia-Ukraine Conflict As the Group is currently devoting significant resources to the development of COVID vaccines, such development may impair the ability to timely progress other product candidates in clinical trials or into clinical trials from their current preclinical stage. In addition, enrollment in other programs may be delayed as a result of the COVID-19 pandemic and our focus on developing a COVID vaccine could have a negative impact on our progress on and associated revenue recognition from our non-COVID-19 collaborations. The partial disruption, even temporary, may negatively impact the Company’s operations and overall business by delaying the progress of its clinical trials and preclinical studies. The Group’s operations, including research and manufacturing, could also be disrupted due to the potential impact of staff absences as a result of self-isolation procedures or extended illness. However, the Group has taken a series of actions aimed at safeguarding its employees and business associates, including implementing a work-from-home policy for employees except for those related to the Group’s laboratory and production operations. The ongoing military conflict between Russia and Ukraine has not and is not expected to have a material direct or indirect effect on the Group’s operations or financial condition: however, the Group is currently operating in a period of economic uncertainty and capital markets disruption, which has been significantly impacted by geopolitical instability due to the ongoing military conflict between Russia and Ukraine. As a result of this instability and responding actions taken by the United States, Russia, EU, and other Foreign Governments, this may limit or prevent filing, prosecuting, and maintaining of patent applications in Russia. Government actions may also prevent maintenance of issued patents in Russia. These actions could result in abandonment or lapse of our patents or patent applications in Russia, resulting in partial or complete loss of patent rights in Russia. In addition, a decree was adopted by the Russian government in March 2022, allowing Russian companies and individuals to exploit, without consent or compensation, inventions owned by patentees that have citizenship or nationality in, are registered in, or have predominately primary place of business or profit-making activities in countries that Russia has deemed unfriendly. Consequently, we would not be able to prevent third parties from using our inventions in Russia or from selling or importing products made using our inventions in and into Russia. Accordingly, our competitive position may be impaired, and our business, financial condition, results of operations and prospects may be materially adversely affected.

Notes to the consolidated finan

Notes to the consolidated financial statements	3 Months Ended
Notes to the consolidated financial statements	Mar. 31, 2023
Notes to the consolidated financial statements
Notes to the consolidated financial statements	3. Notes to the consolidated financial statements 3.1 Revenue from contract with customers The Group recognized the following revenues: Three months ended March 31, 2022 2023 EUR k EUR k Belgium GSK 23,746 6,473 Switzerland CRISPR 180 209 Netherlands Genmab 447 447 Total 24,373 7,129 Of these revenues, all of which were recognized over time as part of collaboration agreements, during the three months ended March 31, 2023 EUR 4,148k (March 31, 2022: EUR 18,243k) related to (i) delivery of research services combined with an IP license (recognized from the upfront payments and achievement of certain milestones as further illustrated in the table below), (ii) EUR 132k (March 31, 2022: EUR 103k) related to delivery of products and (iii) EUR 2,849k (March 31, 2022: EUR 6,027k) were recognized from those research and development services considered distinct within the agreements. Of the total revenues recognized, in the three months ended March 31, 2023, EUR 6,473k in revenue was recognized under the collaboration agreements with GSK, entered into in July 2020, for the research, development, manufacturing and commercialization of mRNA-based vaccines and monoclonal antibodies targeting infectious disease pathogens (“GSK I”) and in April 2021 for research, development and manufacturing of next-generation mRNA vaccines targeting the original SARS-CoV-2 strain as well as emerging variants, including multivalent and monovalent approaches, such as the CureVac’s second-generation COVID-19 vaccine candidate, CV2CoV (“GSK II”). In the first quarter of 2022, the Company reached a development milestone of EUR 10,000k under the GSK I collaboration. Therefore, revenue for the three months ending March 31, 2023, also includes recognition of EUR 423k of the milestone amount (March 31, 2022: EUR 4,725k). The remaining EUR 3,321k of the milestone amount is deferred as contract liability and will be recognized into revenue through the estimated completion date of Phase 1 clinical trials, which represents the period of time during which CureVac is responsible for development as, subsequent to this period, GSK will be responsible for further development and commercialization. In the three months ended March 31, 2022, revenue consisted of EUR 23,746k primarily recognized from the upfront payments under both collaboration agreements with GSK. The Group has received upfront payments which were initially deferred and are subsequently recognized as revenue as the Group renders services over the performance period. Below is a summary of such payments and the related revenues recognized: Upfront and Upfront and Revenue recognized from milestones payments included milestones payments included upfront and milestones payments Upfront and milestone in contract in contract for three months ended payments liabilities at liabilities at March 31, Customer March 31, 2023 December 31, 2022 March 31, 2023 2022 2023 (EUR k) (EUR k) (EUR k) GSK EUR 205,000k (EUR 10,000k milestone payment included) 102,804 99,180 17,719 3,624 CRISPR USD 3,000k (EUR 2,524k)* 929 852 77 77 Genmab USD 10,000k (EUR 8,937k)* 3,575 3,128 447 447 Total 107,308 103,160 18,243 4,148 * Translated at the currency exchange rate prevailing on the transaction date. Contract balances: December 31, March 31, 2022 2023 EUR k EUR k Trade receivables 6,295 3,379 Contract assets 2,707 2,464 Contract liabilities 107,308 103,160 Trade receivables are non-interest bearing and are generally settled within 30 to 45 days. The contract liabilities contain upfront payments and milestone payments from Collaboration agreements. 3.2 Cost of sales The cost of sales consists of the following: Three months ended March 31, 2022 2023 EUR k EUR k Personnel (7,937) (8,188) Materials (22,828) (4,534) Third-party services (964) (5,453) Maintenance and lease (231) (580) Amortization and depreciation (5,168) (1,170) Other (104) (710) Total (37,232) (20,634) For the three months ended March 31, 2023, cost of sales decreased in comparison to corresponding period in 2022. This decline was primarily attributable to higher material costs in the prior year, which were driven by write-offs of raw materials originally procured for the manufacturing of products intended to be sold to GSK. However, these raw materials were no longer expected to be sold to them. 3.3 Selling and distribution expenses Selling and distribution expenses consist of the following: Three months ended March 31, 2022 2023 EUR k EUR k Personnel (197) (716) Amortization and depreciation (17) — Other (57) (108) Total (271) (824) Personnel expenses mainly include salary and salary-related expenses, during the three months ended March 31, 2023 of EUR 675k (March 31, 2022: EUR 129k) and share-based payment expense of EUR 41k (March 31, 2022: EUR 68k). 3.4 Research and development expenses R&D expenses consists of the following: Three months ended March 31, 2022 2023 EUR k EUR k Materials (17,287) (3,489) Personnel (7,054) (11,037) Amortization and depreciation (1,013) (1,725) Patents and fees to register a legal right (1,855) (857) Third-party services 16,800 (4,692) Maintenance and lease (36) (1,766) Other (341) (684) Total (10,786) (24,251) During the three months ended March 31, 2023, research and development expenses increased in comparison to the same period of 2022, as the prior year period was largely impacted by the reversal of provision for onerous contracts in the amount of EUR 6,800k as a result of more participants leaving the clinical trials, prior to completion, than originally estimated and of renegotiations of contracts with CROs. Additionally in 2022, GSK took over the Group’s committed capacity at Novartis (see Note 3.6 for additional information) which resulted in a reduction in the estimated contract termination provisions in the amount of EUR 25,059k. The net effect of these two events resulted in an overall gain within the Third-party services category. As of March 31, 2023, the Group had no development expenditures which met the requirements for capitalization and thus none have been capitalized. Personnel expenses mainly include salary and salary-related expenses, during the three months ended March 31, 2023 of EUR 10,885k (March 31, 2022: EUR 6,864k) and share-based payment expense of EUR 152k (March 31, 2022: EUR 190k). 3.5 General and administrative expenses General and administrative expenses consist of the following: Three months ended March 31, 2022 2023 EUR k EUR k Personnel (9,781) (9,098) Maintenance and lease (1,300) (1,301) Third-party services (5,283) (7,002) Legal and other professional services (2,325) (1,629) Amortization and depreciation (2,938) (3,106) Other (2,939) (1,152) Total (24,566) (23,287) Personnel expenses mainly include salary and salary-related expenses, during the three months ended March 31, 2023, of EUR 7,768k (March 31, 2022: EUR 7,803k) and share-based payment expense of EUR 1,330k (March 31, 2022: EUR 1,978k). During the three months ended March 31, 2023, third-party services expenses increased, compared to the same period of 2022, mainly due to higher consulting services. 3.6 Other operating income Three months ended March 31, 2022 2023 EUR k EUR k Compensation for CMO/Material transfer 33,012 1,544 Sale of equipment 310 308 Grants and other cost reimbursements from government agencies and similar bodies 69 2 Other 45 152 Total 33,436 2,006 In March 2022, CureVac AG and GlaxoSmithKline Biologicals SA amended and restated the 2020 GSK agreement and the GSK COVID Agreement in connection with GSK entering into a direct agreement with Novartis for use of Novartis as a CMO at the same time as CureVac exits its CMO agreement with Novartis. Additionally, under the restated agreement, CureVac is entitled to further compensation by GSK. The compensations mainly consist of a consideration for set-up activities undertaken by CureVac (EUR 20,500k) and for reimbursement of prepayments (EUR 12,000k), which were recognized in other operating income in the three months ended March 31, 2022. As an additional result of this agreement, certain reserved capacity at Novartis was also taken over from the Group by GSK, which resulted in the reversal of provisions of EUR 25,059k which had been recognized as of December 31, 2021, and the recognition of a corresponding gain in research and development expenses in the three months ended March 31, 2022 (see Note 3.4). During the three months ended March 31, 2023 and 2022, income from grants with government agencies and similar bodies resulted from the following: Coalition for Epidemic Preparedness Innovations (CEPI) In January 2020, CureVac and CEPI entered into a collaboration to develop a vaccine against the new coronavirus SARS-CoV-2. The aim of the cooperation is to safely advance vaccine candidates into clinical testing as quickly as possible. The agreement builds upon the existing partnership between CureVac and CEPI to develop a rapid-response vaccine platform and included additional initial funding of up to USD 8,300k. In May 2020, CEPI increased its grant award to the Group for SARS-CoV-2 vaccine development to up to USD 15,300k. For the three months ended March 31, 2023, CureVac recognized the reimbursement by CEPI of approved expenses of EUR 2k (March 31, 2022: EUR 6k) as “other operating income”. As of March 31, 2023, EUR 307k in grant funds received have been deferred and are presented within other liabilities (December 31, 2022: EUR 309k). Bill & Melinda Gates Foundation (BMGF) For the three months ended March 31, 2023, CureVac recognized EUR 0k (March 31, 2022: EUR 63k) from the amortization of the grants on a straight-line basis into other operating income. As of March 31, 2023, EUR 1,712k in grant funds received have been deferred and presented within other liabilities (December 31, 2022: EUR 1,712k).

Issued Capital and Reserves

Issued Capital and Reserves	3 Months Ended
Issued Capital and Reserves	Mar. 31, 2023
Issued Capital and Reserves
Issued Capital and Reserves	4. Issued Capital and Reserves According to the Company’s articles of association, the Company’s authorized shares are divided into 386,250,000 common shares and 386,250,000 preferred shares, each having a nominal As of March 31, 2023, no preferred shares had been issued and all issued common shares issued and outstanding were fully paid. All payments received from shareholders in excess of the nominal value of the shares issued and net of transaction costs are recognized in capital reserves. Capital reserves also consists of recognition of share-based payments and the equity components of convertible loans. The Company may only make distributions, whether a distribution of profits or of freely distributable reserves, to shareholders to the extent shareholders’ equity exceeds the sum of the paid-in and called-up share capital plus any reserves required by Dutch law or by the Company’s articles of association. In September 2021, the Company entered into a sales agreement, the Open Sale Agreement, with Jefferies LLC and SVB Leerink LLC, as sales agents, to establish an at-the-market (ATM) offering program, pursuant to which it may sell, from time to time, ordinary shares for aggregate gross proceeds of up to USD 600.0 million. In the first quarter of 2023, 1,748,218 shares were issued under the ATM program, raising USD 17.5 million in net proceeds; related offering expenses were recorded against the proceeds in equity. Following these issuances, the remaining value authorized for sale under the at-the-market program amounts to $497.5 million. In February 2023, the Group completed a follow-on public offering whereby it sold 27,027,028 common shares at a price of USD 9.25 per share. The aggregate proceeds, net of underwriting discounts, received by the Group from these transactions were EUR 219,832k. Additional offering costs for legal, accounting, printing and registration fees of EUR 14,580k were recognized as reduction to capital reserve against the proceeds from the offering. The number of shares issued and outstanding developed as follows: Common shares issued and outstanding at December 31, 2022 194,997,091 At-the-market offering program issuances 1,748,218 Share issuances as part of the public offering 27,027,028 Share issuances for exercises between Jan to Mar 2023 112,089 Treasury shares (32,913) Common shares issued and outstanding at March 31, 2023 223,851,513

Share-based payments

Share-based payments	3 Months Ended
Share-based payments	Mar. 31, 2023
Share-based payments
Share-based payments	5. Share-based payments During the three months ended March 31, 2023 and 2022, the Group recognized share-based based payments expenses of EUR 1,578k and EUR 2,273k, respectively, as follows: Three months ended March 31, 2022 2023 EUR k EUR k Research and development expenses 189 152 Selling and distribution expenses 67 41 General and administrative expenses 1,978 1,330 Other operating expenses 37 55 Total 2,273 1,578 Expense recognized for the equity-settled programs was as follows: Three months ended March 31, Program 2022 2023 EUR k EUR k LTIP Stock Options 1,824 975 RSU Supervisory Board 37 55 New VSOP 103 57 Prior VSOP 92 (51) LTIP RSUs 216 542 Total 2,273 1,578 On November 16, 2020, CureVac granted 266,155 options to the Chief Scientific Officer (CSO). Furthermore, on December 1, 2020, CureVac granted 266,156 options (in 3 tranches) to the Group’s Chief Business Officer (CBO) and Chief Commercial Officer (CCO). All grants were made at no cost under the terms of a new long-term incentive plan (LTIP) put in place by CureVac N.V. Options will be settled in shares of CureVac N.V. As of March 31, 2023, none of the options granted to the CBO/CCO under the LTIP were exercised at that date. The CSO exercised 6,303 options during 2022. On July 1, 2021, CureVac granted 20,000 options to the Chief Operations Officer (COO). Furthermore, on August 1, 2021, CureVac granted 30,000 options to the Chief Development Officer (CDO). All grants were made at no cost under the terms of the new long-term incentive plan (LTIP) put in place by CureVac N.V. Options will be settled in shares of CureVac N.V. As of March 31, 2023, none of the options granted to the COO were exercised at that date. The CDO has left the Group and, under the terms of his LTIP agreement, his options had expired as of December 31, 2022. On March 1, 2021, CureVac granted 2,000 options to a key employee and on January 1, 2022, CureVac granted 9,500 options to a key employee. All grants were made at no cost under the terms of the new long-term incentive plan (LTIP) put in place by CureVac N.V. Options will be settled in shares of CureVac N.V. As of March 31, 2023, none of the options were exercised at that date. On March 1, 2022, CureVac granted 130,000 options to the Executive Board. All grants were made at no cost under the terms of the new long-term incentive plan (LTIP) put in place by CureVac N.V. Options will be settled in shares of CureVac N.V. As of March 31, 2023, none of the options were exercised at that date. On April 1, 2022, CureVac granted 700 options to a key employee. All grants were made at no cost under the terms of the new long-term incentive plan (LTIP) put in place by CureVac N.V. Options will be settled in shares of CureVac N.V. As of March 31, 2023, none of the options were exercised at that date. The expenses recognized for employee services received under the LTIP Stock Options during the three months ended March 31, 2023, is in an amount of EUR 975k (2022; EUR 1,824k) and is included in general and administrative expenses and selling and distribution expenses. In 2021, as part of the LTIP program, the group awarded RSUs (restricted stock units) to senior executives as well as supervisory board members. On June 24, 2021, the group awarded 10,956 RSUs to Supervisory Board members and on December 23, 2021, the group awarded 63,095 RSUs to the Executive Board and various key employees. Up to March 31, 2023, 47,424 RSU’s were settled. The related RSU expense is recorded in the functional cost category to which the award recipient’s costs are classified. On January 01, 2022, CureVac awarded 36,000 RSUs to the Chief Executive Officer (CEO). The related RSU expense is included in general and administrative expenses. For the three months period ended March 31, 2023, all RSUs were settled. On January 31, 2022, CureVac awarded 5,000 options to the Chief Operations Officer (COO) and 30,000 RSUs to the Chief Business Officer (CBO). The related RSU expense is included in general and administrative expenses. On June 22, 2022, the group awarded 37,868 RSUs to supervisory board members and 193,340 RSUs to the executive board and various key employees. On November 30, 2022, the group awarded further 7,633 RSU awards to key employees who joined the Group during fiscal 2022. The related RSU expense is recorded in the functional cost category to which the award recipient’s costs are classified. Up to March 31, 2023, 73,056 RSUs were settled. Effective July 1, 2022 (‘closing date’), CureVac N.V. acquired all shares of Frame Pharmaceuticals B.V., Amsterdam, Netherlands (‘Frame Pharmaceuticals’), now CureVac Netherlands BV. On July 1, 2022, CureVac awarded 89,655 RSUs to the former Frame employees. The related RSU expense is recorded in the functional cost category to which the award recipients’ costs are classified. The expenses recognized for employee services received under the LTIP RSUs during the three months ended March 31, 2023, is in an amount of EUR 542k (2022: EUR 216k) and is included in research and development expenses, general and administrative expenses and selling and distribution expenses. The remaining expense of EUR 57k (2022: EUR 103k) results from grants under the New VSOP and the consideration of the Prior VSOP program leads to an earning of EUR 51k (2022: expense of EUR 92k) in the three-month period ended March 31, 2023. As the CEO left as of March 31, 2023, all remaining unvested awards are subject to accelerated vesting. Exercise of options Under the New VSOP plan, 36,516 options were exercised within the first three months of 2023 at a weighted average share price of USD 10.42.

Fixed Assets

Fixed Assets	3 Months Ended
Fixed Assets	Mar. 31, 2023
Fixed Assets
Fixed Assets	6. Fixed Assets 6.1 Intangible assets During the three months ended March 31, 2023, the Group acquired intangible assets of EUR 134k (three months ended March 31, 2022: EUR 448k). Acquired intangibles mainly related to licenses, software and prepayments made to acquire those. 6.2 Property, plant and equipment During the three months ended March 31, 2023, the increase in property, plant and equipment was attributable to the purchase of technical equipment and machines and other equipment of EUR 3,206k (March 31, 2022: EUR 1,551k) as well as additional amounts recognized as construction in progress of EUR 12,631k (March 31, 2022: EUR 20,533k) primarily related to the Company-owned GMP IV facility EUR 11,845k.

Assets held for sale

Assets held for sale	3 Months Ended
Assets held for sale	Mar. 31, 2023
Assets held for sale
Assets held for sale	7. Assets held for sale In 2022, Management decided to dispose of certain equipment which had been procured for CMO activities (CMO Equipment) but that was no longer planned to be used by the Company. An external service-provider was appointed on June 14, 2022 to organize the sale of the CMO Equipment. As of December 31, 2022, the CMO-Equipment identified for sale had a gross book value of EUR 29,531k and was written down by EUR 19,064k (with the corresponding expense recognized in cost of sales) to EUR 10,467k, the fair value less anticipated costs to sell. Criteria for the determination of the fair value were defined based on certain sales scenarios considering different sales campaigns. All sales activities are scheduled for 2023 and as of March 31, 2023 Assets held for sale with a net book value of EUR 257k were sold through an external service provider.

Inventories

Inventories	3 Months Ended
Inventories	Mar. 31, 2023
Inventories
Inventories	8. Inventories The inventories include only raw materials and supplies amounting to EUR 24,678k (December 31, 2022: EUR 23,989

Prepaid expenses and other asse

Prepaid expenses and other assets (current)	3 Months Ended
Prepaid expenses and other assets (current)	Mar. 31, 2023
Prepaid expenses and other assets (current)
Prepaid expenses and other assets (current)	9. Prepaid expenses and other assets (current) Prepaid expenses and other current assets as of March 31, 2023 amounted to EUR 25,597k (December 31, 2022: 40,287k) and mainly include receivables for the GSK compensation of EUR 3,658k (December 31, 2022; EUR 5,595k). For more details, refer to note 3.6. In addition, other assets include tax claims against the tax authorities of EUR 8,540k (December 31, 2022: EUR 24,840k). These net amounts of VAT refund claims and VAT payables do not bear interest and are reported to the tax authorities on a monthly basis.

Financial assets and financial

Financial assets and financial liabilities	3 Months Ended
Financial assets and financial liabilities	Mar. 31, 2023
Financial assets and financial liabilities
Financial assets and financial liabilities	10. Financial assets and financial liabilities Fair values of cash and cash equivalents, trade receivables, trade payables, and other current liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments. Cash and cash equivalents compromise cash at banks and term deposits. Cash and cash equivalents compromise cash at banks and term deposits. There were no transfers between Level 1 and Level 2 fair value measurements and no transfers into or out of Level 3 fair value measurements during the three months ended March 31, 2023 and 2022.

Trade and other payables

Trade and other payables	3 Months Ended
Trade and other payables	Mar. 31, 2023
Trade and other payables.
Trade and other payables	11. Trade and other payables Trade and other payables are all due within one year amounting to EUR 14,973k (December 31, 2022: EUR 73,463k). During the three months ended March 31, 2023, the decrease of EUR 58,490k in trade and other payables was primarily due payments to raw material suppliers for invoices received before December 31, 2022.

Other liabilities and provision

Other liabilities and provisions	3 Months Ended
Other liabilities and provisions	Mar. 31, 2023
Other liabilities and provisions
Other liabilities and provisions	12. Other liabilities and provisions During the three months ended March 31, 2023, the decrease of EUR 2,776k in other liabilities was primarily due to lower accruals for outstanding invoices. During the three months ended March 31, 2023, the decrease of EUR 588k in provisions was primarily due to a consumption of the CRO provision for onerous losses.

Income tax

Income tax	3 Months Ended
Income tax	Mar. 31, 2023
Income tax
Income tax	13. Income tax For the three months ended March 31, 2023 and 2022, the Group recorded a consolidated income tax expense (March 31, 2022: income tax benefit) of EUR 1k (March 31, 2022: EUR 96k), respectively. The consolidated income tax expense (March 31, 2022: income tax benefit) for the three months ended March 31, 2023, resulted from income tax expense from CureVac Swiss AG of EUR 1k.

Disclosure of financial instrum

Disclosure of financial instruments and management of financial risks	3 Months Ended
	Mar. 31, 2023
Disclosure of financial instruments and management of financial risks
Disclosure of financial instruments and management of financial risks	14. Disclosure of financial instruments and risk management As the Group requires significant liquid funds available for the financing of its COVID-19 and influenza research and development activities, during the three months ended March 31, 2023, it has maintained funds as cash and cash equivalents and not in less liquid financial instruments. The Group has distributed the cash amongst several banks and amongst the legal entities in the Group in order to reduce negative interest penalties. Refer to note 16 to the consolidated financial statements as of December 31, 2022 for additional information on the Group’s risk management activities. As of March 31, 2023, the Group held cash and cash equivalents of USD 76,186k and CHF 124k, which are exposed to foreign currency exchange risk. The Group intends to settle expenses arising in US dollars using these US dollar funds.

Earnings per share

Earnings per share	3 Months Ended
Earnings per share	Mar. 31, 2023
Earnings per share
Earnings per share	15. Earnings per share Earnings per share is calculated pursuant to IAS 33 Earnings per Share The weighted number of shares outstanding for the three months ended March 31, 2023 was 211,444,899 (March 31, 2022: 186,993,831). This has led to a basic loss per share for the three months ended March 31, 2023 and 2022 of EUR 0.27 and EUR 0.08, respectively. Since the conversion of options to ordinary shares would decrease loss per share, they are considered antidilutive. Therefore, the diluted earnings per share equals basic earnings per share for the three months ended March 31, 2023 and 2022.

Related party disclosures

Related party disclosures	3 Months Ended
Related party disclosures	Mar. 31, 2023
Related party disclosures
Related party disclosures	16. Related party disclosures Dietmar Hopp During fiscal 2019, Dietmar Hopp, principal of dievini Hopp BioTech holding GmbH & Co. KG (dievini), the largest shareholder of the Group, granted two convertible loans to the Group, which were repaid in 2020. Additionally, in August 2020, DH-LT Investments GmbH, a company beneficially owned by Dietmar Hopp, managing director of dievini, the Group ’ ’ Antony Blanc In 2020, a consulting agreement between CureVac AG and Clarentis SRL was made. Clarentis SRL is a wholly owned consulting company of Antony Blanc, PhD, the CBO of CureVac. After the transition of Antony Blanc to the Management Board in February 2021, the contract was no longer active, and no new orders were placed. In Q3 2021, a milestone payment, which related to the submission of the EMA dossier for CVnCoV and which amounted to EUR 100k was made to fulfill a contractual obligation from the consulting agreement in place before Antony Blanc joined the Management Board. In addition to his Management Board position at CureVac N.V., Antony also took over the role as Management Director at CureVac Belgium SA. He executes this function by using Clarentis SRL. As it relates to these services, CureVac paid in 2023 until March 2023 an amount of EUR 21k. The amounts invoiced for this function/services will be offset/deducted from his base compensation for his function on the Board of Management of CureVac N.V. BePharBel Manufacturing S.A. In December 2020, CureVac Real Estate GmbH and BePharBel Manufacturing S.A., entered into a commercial supply agreement to develop and manufacture the diluent that was expected to be used to dilute the Group’s first concentrated COVID-19 vaccine candidate, CVnCoV, to the amount specified by each dose level. Pursuant to the terms of the agreement, it was intended that BePharBel Manufacturing would manufacture and deliver to CureVac Real Estate GmbH a low seven figure amount of commercial batches of diluent per year, in 2021 and 2022. Following the withdrawal of the CVnCoV in October 2021 due to COVID-19 virus drift, WHO COVID vaccine efficiency recommendation and market expectations, CureVac Real Estate GmbH terminated the commercial and supply agreement with BePahrBel and entered into negotiations on a structured and rapid wind-down of the ordered production. The Parties agreed on a settlement in May 2022 of all claims resulting from the commercial and supply agreement for an amount of EUR 3,900k, which had been already recognized in provisions, based on an estimate, as of December 31, 2021. In total an amount of EUR 4,016k was paid. Baron Jean Stéphenne, Chairman of our Supervisory Board, holds directly and indirectly 15.61% of BePharBel Manufacturing’s equity and is a director of BePharBel Manufacturing, and Baron Jean Stéphenne’s son, Vincent Stéphenne, holds 1.43% of BePharBel Manufacturing’s equity and is a managing director of BePharBel Manufacturing. Franz-Werner Haas In Q1 2023, a consulting agreement between CureVac SE and Franz-Werner Haas was entered into. For the three-month period ended March 31, 2023 no costs have been incurred under this agreement. Alexander Zehnder In Q1 2023, a first addendum to the future service agreement was entered into to ensure a smooth transition from CEO Franz-Werner Haas to the new CEO Alexander Zehnder. Total compensation amounted to EUR 51k during the month of March. Barker BioMedical GmbH In Q1 2023, a consulting agreement between CureVac SE and Barker BioMedical GmbH was entered into. Barker BioMedical GmBH is a wholly-owned consulting company of Debra Barker, Supervisory Board member of CureVac N.V.. For the three-month period ended March 31, 2023 no costs have been incurred under this agreement. Craig Tooman In Q1 2023, a consulting agreement between CureVac SE and Craig Tooman was entered into. For the three-month period ended March 31, 2023 no costs have been incurred under this agreement.

Subsequent events

Subsequent events	3 Months Ended
Subsequent events	Mar. 31, 2023
Subsequent events
Subsequent events	17. Subsequent events The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the financial statements were issued. Based upon this review, the Company identified no subsequent event that requires disclosure in the financial statements.

Basis of preparation (Policies)

Basis of preparation (Policies)	3 Months Ended
Basis of preparation (Policies)	Mar. 31, 2023
Basis of preparation
Basis of preparation	The interim condensed consolidated financial statements for the three months ended March 31, 2023, have been prepared in accordance with IAS 34 Interim Financial Reporting. The interim condensed consolidated financial statements do not include all the information and disclosures required in the annual consolidated financial statements and should be read in conjunction with the Group’s annual consolidated financial statements as of December 31, 2022. The interim condensed consolidated financial statements were authorized by the Management Board for presentation to the Supervisory Board on May 22, 2023. The Group’s interim condensed consolidated financial statements are presented in Euros (“EUR”). Unless otherwise stated, amounts are rounded to thousands of Euros, except per share amounts. Due to rounding, differences may arise when individual amounts or percentages are added together.
New standards, interpretations and amendments adopted by the Group	New standards, interpretations and amendments adopted by the Group The accounting policies adopted in the preparation of the interim condensed consolidated financial statements are consistent with those followed in the preparation of the Group’s annual consolidated financial statements for the year ended December 31, 2022. The new and amended standards and interpretations applied for the first time as of January 1, 2023, as disclosed in the notes to the consolidated financial statements as of December 31, 2022, had no impact on the interim condensed consolidated financial statements of the Group as of and for the three months ended March 31, 2023. The Group has not early adopted any standard, interpretation or amendment that has been issued but is not yet effective.
Impact of COVID-19 and the Russia-Ukraine Conflict	Impact of COVID-19 and the Russia-Ukraine Conflict As the Group is currently devoting significant resources to the development of COVID vaccines, such development may impair the ability to timely progress other product candidates in clinical trials or into clinical trials from their current preclinical stage. In addition, enrollment in other programs may be delayed as a result of the COVID-19 pandemic and our focus on developing a COVID vaccine could have a negative impact on our progress on and associated revenue recognition from our non-COVID-19 collaborations. The partial disruption, even temporary, may negatively impact the Company’s operations and overall business by delaying the progress of its clinical trials and preclinical studies. The Group’s operations, including research and manufacturing, could also be disrupted due to the potential impact of staff absences as a result of self-isolation procedures or extended illness. However, the Group has taken a series of actions aimed at safeguarding its employees and business associates, including implementing a work-from-home policy for employees except for those related to the Group’s laboratory and production operations. The ongoing military conflict between Russia and Ukraine has not and is not expected to have a material direct or indirect effect on the Group’s operations or financial condition: however, the Group is currently operating in a period of economic uncertainty and capital markets disruption, which has been significantly impacted by geopolitical instability due to the ongoing military conflict between Russia and Ukraine. As a result of this instability and responding actions taken by the United States, Russia, EU, and other Foreign Governments, this may limit or prevent filing, prosecuting, and maintaining of patent applications in Russia. Government actions may also prevent maintenance of issued patents in Russia. These actions could result in abandonment or lapse of our patents or patent applications in Russia, resulting in partial or complete loss of patent rights in Russia. In addition, a decree was adopted by the Russian government in March 2022, allowing Russian companies and individuals to exploit, without consent or compensation, inventions owned by patentees that have citizenship or nationality in, are registered in, or have predominately primary place of business or profit-making activities in countries that Russia has deemed unfriendly. Consequently, we would not be able to prevent third parties from using our inventions in Russia or from selling or importing products made using our inventions in and into Russia. Accordingly, our competitive position may be impaired, and our business, financial condition, results of operations and prospects may be materially adversely affected.

Notes to the consolidated fin_2

Notes to the consolidated financial statements (Tables)	3 Months Ended
Notes to the consolidated financial statements (Tables)	Mar. 31, 2023
Notes to the consolidated financial statements
Schedule of revenue from contract with customers recognized	Three months ended March 31, 2022 2023 EUR k EUR k Belgium GSK 23,746 6,473 Switzerland CRISPR 180 209 Netherlands Genmab 447 447 Total 24,373 7,129
Summary of upfront payments and related revenues recognized	Upfront and Upfront and Revenue recognized from milestones payments included milestones payments included upfront and milestones payments Upfront and milestone in contract in contract for three months ended payments liabilities at liabilities at March 31, Customer March 31, 2023 December 31, 2022 March 31, 2023 2022 2023 (EUR k) (EUR k) (EUR k) GSK EUR 205,000k (EUR 10,000k milestone payment included) 102,804 99,180 17,719 3,624 CRISPR USD 3,000k (EUR 2,524k)* 929 852 77 77 Genmab USD 10,000k (EUR 8,937k)* 3,575 3,128 447 447 Total 107,308 103,160 18,243 4,148 * Translated at the currency exchange rate prevailing on the transaction date.
Schedule of contract balances	December 31, March 31, 2022 2023 EUR k EUR k Trade receivables 6,295 3,379 Contract assets 2,707 2,464 Contract liabilities 107,308 103,160
Schedule of cost of sales, selling and distribution expenses, research and development expenses and general and administrative expenses	The cost of sales consists of the following: Three months ended March 31, 2022 2023 EUR k EUR k Personnel (7,937) (8,188) Materials (22,828) (4,534) Third-party services (964) (5,453) Maintenance and lease (231) (580) Amortization and depreciation (5,168) (1,170) Other (104) (710) Total (37,232) (20,634) Selling and distribution expenses consist of the following: Three months ended March 31, 2022 2023 EUR k EUR k Personnel (197) (716) Amortization and depreciation (17) — Other (57) (108) Total (271) (824) R&D expenses consists of the following: Three months ended March 31, 2022 2023 EUR k EUR k Materials (17,287) (3,489) Personnel (7,054) (11,037) Amortization and depreciation (1,013) (1,725) Patents and fees to register a legal right (1,855) (857) Third-party services 16,800 (4,692) Maintenance and lease (36) (1,766) Other (341) (684) Total (10,786) (24,251) General and administrative expenses consist of the following: Three months ended March 31, 2022 2023 EUR k EUR k Personnel (9,781) (9,098) Maintenance and lease (1,300) (1,301) Third-party services (5,283) (7,002) Legal and other professional services (2,325) (1,629) Amortization and depreciation (2,938) (3,106) Other (2,939) (1,152) Total (24,566) (23,287)
Schedule of other operating income	Three months ended March 31, 2022 2023 EUR k EUR k Compensation for CMO/Material transfer 33,012 1,544 Sale of equipment 310 308 Grants and other cost reimbursements from government agencies and similar bodies 69 2 Other 45 152 Total 33,436 2,006

Issued Capital and Reserves (Ta

Issued Capital and Reserves (Tables)	3 Months Ended
Issued Capital and Reserves (Tables)	Mar. 31, 2023
Issued Capital and Reserves
Schedule of total shares	Common shares issued and outstanding at December 31, 2022 194,997,091 At-the-market offering program issuances 1,748,218 Share issuances as part of the public offering 27,027,028 Share issuances for exercises between Jan to Mar 2023 112,089 Treasury shares (32,913) Common shares issued and outstanding at March 31, 2023 223,851,513

Share-based payments (Tables)

Share-based payments (Tables)	3 Months Ended
Share-based payments (Tables)	Mar. 31, 2023
Share-based payments
Schedule of share-based payments expenses	Three months ended March 31, 2022 2023 EUR k EUR k Research and development expenses 189 152 Selling and distribution expenses 67 41 General and administrative expenses 1,978 1,330 Other operating expenses 37 55 Total 2,273 1,578
Schedule for expense recognized for the equity-settled programs	Three months ended March 31, Program 2022 2023 EUR k EUR k LTIP Stock Options 1,824 975 RSU Supervisory Board 37 55 New VSOP 103 57 Prior VSOP 92 (51) LTIP RSUs 216 542 Total 2,273 1,578

Notes to the consolidated fin_3

Notes to the consolidated financial statements - Revenue from contract with customers (Details) - EUR (€) € in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Notes to the consolidated financial statements
Total revenues	€ 7,129	€ 24,373
Research services combined with an IP license
Notes to the consolidated financial statements
Total revenues	4,148	18,243
Product
Notes to the consolidated financial statements
Total revenues	132	103
Research and development services
Notes to the consolidated financial statements
Total revenues	2,849	6,027
Belgium \| GSK
Notes to the consolidated financial statements
Total revenues	6,473	23,746
Switzerland \| CRISPR
Notes to the consolidated financial statements
Total revenues	209	180
Netherlands \| Genmab
Notes to the consolidated financial statements
Total revenues	€ 447	€ 447

Notes to the consolidated fin_4

Notes to the consolidated financial statements - Additional Information (Details) € in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2023 EUR (€)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 EUR (€)
Notes to the consolidated financial statements
Proceeds from the issuance of shares (net of transaction costs)	€ 235,840	$ 17.5
Revenue recognized	7,129		€ 24,373
Milestone revenues
Notes to the consolidated financial statements
Revenue recognized	423		4,725
Additional development milestone payments			€ 10,000
Development milestone payment included in contract liabilities	€ 3,321

Notes to the consolidated fin_5

Notes to the consolidated financial statements - Summary of upfront payments and related revenues recognized (Details) - Research services combined with an IP license € in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023 EUR (€)	Mar. 31, 2022 EUR (€)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 EUR (€)
Notes to the consolidated financial statements
Upfront and milestones payments included in contract liabilities	€ 103,160			€ 107,308
Revenue recognized from upfront payments	4,148	€ 18,243
GSK
Notes to the consolidated financial statements
Upfront and milestone payments received or receivable	205,000
Upfront and milestones payments included in contract liabilities	99,180			102,804
Revenue recognized from upfront payments	3,624	17,719
CRISPR
Notes to the consolidated financial statements
Upfront and milestone payments received or receivable	2,524		$ 3,000
Upfront and milestones payments included in contract liabilities	852			929
Revenue recognized from upfront payments	77	77
Genmab
Notes to the consolidated financial statements
Upfront and milestone payments received or receivable	8,937		$ 10,000
Upfront and milestones payments included in contract liabilities	3,128			€ 3,575
Revenue recognized from upfront payments	447	€ 447
Minimum \| GSK
Notes to the consolidated financial statements
Upfront and milestone payments received or receivable	€ 10,000

Notes to the consolidated fin_6

Notes to the consolidated financial statements - Contract balances (Details) - EUR (€) € in Thousands	Mar. 31, 2023	Dec. 31, 2022
Notes to the consolidated financial statements
Trade receivables	€ 3,379	€ 6,295
Contract assets	2,464	2,707
Contract liabilities	€ 103,160	€ 107,308

Notes to the consolidated fin_7

Notes to the consolidated financial statements - Cost of sales (Details) - EUR (€) € in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Notes to the consolidated financial statements
Impairment of assets held for sale			€ 19,064
Cost of sales
Notes to the consolidated financial statements
Personnel	€ (8,188)	€ (7,937)
Materials	(4,534)	(22,828)
Third-party services	(5,453)	(964)
Maintenance and lease	(580)	(231)
Amortization and depreciation	(1,170)	(5,168)
Other	(710)	(104)
Total	€ (20,634)	€ (37,232)

Notes to the consolidated fin_8

Notes to the consolidated financial statements - Selling and distribution expenses (Details) - Selling and distribution expenses - EUR (€) € in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Notes to the consolidated financial statements
Personnel	€ (716)	€ (197)
Amortization and depreciation		(17)
Other	(108)	(57)
Total	(824)	(271)
Salary and salary-related expenses	675	129
Expenses from share-based payments	€ 41	€ 68

Notes to the consolidated fin_9

Notes to the consolidated financial statements - Research and development expenses (Details) - EUR (€) € in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Notes to the consolidated financial statements
Estimated contract termination provisions			€ 25,059
Research and development expenses
Notes to the consolidated financial statements
Materials	€ 3,489	€ 17,287
Personnel	(11,037)	(7,054)
Amortization and depreciation	(1,725)	(1,013)
Patents and fees to register a legal right	(857)	(1,855)
Third-party services	(4,692)	16,800
Maintenance and lease	(1,766)	(36)
Other	(684)	(341)
Total	(24,251)	(10,786)
Reversal of provision of onerous contracts	6,800
Expenses from share-based payments	152	190
Salary and salary-related expenses	€ 10,885	€ 6,864

Notes to the consolidated fi_10

Notes to the consolidated financial statements - General and administrative expenses (Details) - General and administrative expenses - EUR (€) € in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Notes to the consolidated financial statements
Personnel	€ (9,098)	€ (9,781)
Maintenance and lease	(1,301)	(1,300)
Third-party services	(7,002)	(5,283)
Legal and other professional services	(1,629)	(2,325)
Amortization and depreciation	(3,106)	(2,938)
Other	(1,152)	(2,939)
Total	(23,287)	(24,566)
Salary and salary-related expenses	7,768	7,803
Expenses from share-based payments	€ 1,330	€ 1,978

Notes to the consolidated fi_11

Notes to the consolidated financial statements - Other operating income (Details) - EUR (€) € in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Notes to the consolidated financial statements
Compensation for CMO/Materials transfer	€ 1,544	€ 33,012
Sale of equipment	308	310
Grants and other reimbursements from government agencies and similar bodies	2	69
Other	152	45
Total	€ 2,006	€ 33,436

Notes to the consolidated fi_12

Notes to the consolidated financial statements - Grants with government agencies and similar bodies (Details) € in Thousands, $ in Thousands	3 Months Ended			12 Months Ended
	Mar. 31, 2023 EUR (€)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)	Dec. 31, 2022 EUR (€)	May 31, 2020 USD ($)	Jan. 31, 2020 USD ($)
Notes to the consolidated financial statements
Reversal of provision recognized				€ 25,059
GSK [Member]
Notes to the consolidated financial statements
Compensation consist for set-up activities			€ 20,500
Reimbursement of prepayments			12,000
Coalition for Epidemic Preparedness Innovations
Notes to the consolidated financial statements
Income from release of governmental contract liabilities	€ 2		6
Maximum grant \| $						$ 15,300	$ 8,300
Grants received and deferred	307				€ 309
Bill & Melinda Gates Foundation (BMGF)
Notes to the consolidated financial statements
Income from release of governmental contract liabilities	€ 0	$ 1,712	€ 63
Grants received and deferred					€ 1,712

Issued Capital and Reserves - O

Issued Capital and Reserves - Overview and General Remarks (Details) - Mar. 31, 2023 $ in Millions	€ / shares	USD ($) shares
Issued Capital and Reserves
Remaining authorized for sale value \| $		$ 497.5
Common shares
Issued Capital and Reserves
Number of shares authorized		386,250,000
Notional value per share \| € / shares	€ 0.12
Preferred shares
Issued Capital and Reserves
Number of shares authorized		386,250,000
Notional value per share \| € / shares	€ 0.12
Number of shares issued		0

Issued Capital and Reserves - A

Issued Capital and Reserves - At-the-market offering (Details) $ / shares in Units, € in Thousands, $ in Thousands	1 Months Ended			3 Months Ended
	Feb. 28, 2023 EUR (€) shares	Feb. 28, 2023 USD ($) $ / shares shares	Sep. 30, 2021 USD ($)	Mar. 31, 2023 EUR (€) shares	Mar. 31, 2023 USD ($) shares
Issued Capital and Reserves
Cash received from issuance of shares				€ 235,840	$ 17,500
Shares issued as part of the at-the-market offering program				1,748,218	1,748,218
ATM Offering Program
Issued Capital and Reserves
Aggregate gross proceeds \| $			$ 600,000
Shares issued as part of the at-the-market offering program				1,748,218	1,748,218
Follow-on public offering, incl. Greenshoe
Issued Capital and Reserves
Cash received from issuance of shares \| $		$ 219,832
Shares issued as part of the at-the-market offering program	27,027,028	27,027,028
Additional offering costs recognized as reduction to capital reserve \| €	€ 14,580
Price per shares issued in follow-on public offering \| $ / shares		$ 9.25

Issued Capital and Reserves - I

Issued Capital and Reserves - Impact of share split (Details)	3 Months Ended
	Mar. 31, 2023 shares
Issued Capital and Reserves
Common shares issued and outstanding beginning	194,997,091
Treasury shares	(32,913)
Share issuances for exercises	112,089
Shares issued as part of the at-the-market offering program	1,748,218
Common shares issued and outstanding ending	223,851,513
Public Offering
Issued Capital and Reserves
Share issuances for exercises	27,027,028

Share-based payments - Expenses

Share-based payments - Expenses (Details) - EUR (€) € in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based payments
Research and development expenses	€ 152	€ 189
Selling and distribution expenses	41	67
General and administrative expenses	1,330	1,978
Other operating expenses	55	37
Total	€ 1,578	€ 2,273

Share-based payments - Equity-s

Share-based payments - Equity-settled programs (Details) - EUR (€) € in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based payments
Total	€ 1,578	€ 2,273
LTIP
Share-based payments
Total	975	1,824
RSU Supervisory Board
Share-based payments
Total	55	37
New VSOP
Share-based payments
Total	57	103
Prior VSOP
Share-based payments
Total	(51)	92
LTIP RSU
Share-based payments
Total	€ 542	€ 216

Share-based payments (Details)

Share-based payments (Details) € in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

Nov. 30, 2022 Option

Sep. 22, 2022 Option

Jun. 22, 2022 Option

Apr. 01, 2022 EUR (€)

Mar. 01, 2022 Option

Jan. 31, 2022 Option

Jan. 01, 2022 Option

Dec. 23, 2021 Option

Aug. 01, 2021 Option

Jul. 01, 2021 Option

Mar. 01, 2021 Option

Jan. 24, 2021 Option

Dec. 01, 2020 Option

Nov. 16, 2020 Option

May 31, 2022 Option

Mar. 31, 2023 EUR (€) Option shares

Mar. 31, 2023 $ / shares

Mar. 31, 2022 EUR (€)

Dec. 31, 2022 EUR (€) Option

Share-based payments

Share-based based payments expenses | €

€ 1,578

€ 2,273

Number of RSUs settled | shares

73,056

LTIP Stock Options

Share-based payments

Number of RSU's awarded

1,824

Number of RSUs settled | shares

47,424

Expenses recognized | €

€ 975

Expenses recognized with RSU | €

542

€ 216

Prior VSOP

Share-based payments

Expenses recognized | €

€ 51

New VSOP

Share-based payments

Number of options exercised

36,516

Average share price | $ / shares

$ 10.42

Expenses recognized | €

€ 57

€ 103

Chief Scientific Officer | LTIP Stock Options

Share-based payments

Number of share options granted

700

266,155

Number of options exercised

6,303

Chief Business Officer and Chief Commercial Officer | LTIP Stock Options

Share-based payments

Number of share options granted

266,156

Chief Operating Officer

Share-based payments

Number of RSU's awarded

36,000

Number of awards granted

5,000

Chief Operating Officer | LTIP Stock Options

Share-based payments

Number of share options granted

20,000

Number of options exercised

Chief Development Officer | LTIP Stock Options

Share-based payments

Number of share options granted

30,000

Members of executive board and various key employees

Share-based payments

Number of RSU's awarded

193,340

Members of executive board and various key employees | LTIP Stock Options

Share-based payments

Number of awards granted

63,095

Key employees

Share-based payments

Number of RSU's awarded

7,633

Key employees | LTIP Stock Options

Share-based payments

Number of share options granted

9,500

2,000

Number of options exercised

Executive board members | LTIP Stock Options

Share-based payments

Number of share options granted

130,000

Number of options exercised

Supervisory board members

Share-based payments

Number of RSU's awarded

37,868

Supervisory board members | LTIP Stock Options

Share-based payments

Number of RSU's awarded

10,956

Chief Business Officer

Share-based payments

Number of RSU's awarded

89,655

30,000

Fixed Assets - Intangible asset

Fixed Assets - Intangible assets (Details) - EUR (€) € in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Acquisition costs \| licenses, software and prepayments [Member]
Fixed Assets
Additions	€ 134	€ 448

Fixed Assets - Property, plant

Fixed Assets - Property, plant and equipment (Details) - EUR (€) € in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Fixed Assets
Beginning balance	€ 197,941
Ending balance	210,475
Assets under construction
Fixed Assets
Additions	12,631	€ 20,533
Company-owned GMP IV facility
Fixed Assets
Additions	11,845
Acquisition costs \| Technical equipment and machines
Fixed Assets
Additions	€ 3,206	€ 1,551

Assets held for sale (Details)

Assets held for sale (Details) - EUR (€) € in Thousands	3 Months Ended	12 Months Ended
Assets held for sale (Details) - EUR (€) € in Thousands	Mar. 31, 2023	Dec. 31, 2022
Assets held for sale
Gross book value of CMO-Equipment held for sale		€ 29,531
Impairment of assets held for sale		19,064
Inventories fair value costs to sell		10,467
Written down value of equipment	€ 10,210	€ 10,467
Assets held for sale with a net book value sold	€ 257

Inventories (Details)

Inventories (Details) - EUR (€) € in Thousands	3 Months Ended
Inventories (Details) - EUR (€) € in Thousands	Mar. 31, 2023	Dec. 31, 2022
Inventories
Raw materials	€ 24,678	€ 98
Increase in inventory	€ 688

Prepaid expenses and other as_2

Prepaid expenses and other assets (current) (Details) - EUR (€) € in Thousands	Mar. 31, 2023	Dec. 31, 2022
Prepaid expenses and other current assets
Prepaid expenses and other current assets	€ 25,597	€ 40,287
Prepayments for compensation	3,658	5,595
Tax claims	€ 8,540	€ 24,840

Financial assets and financia_2

Financial assets and financial liabilities (Details) - EUR (€)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Financial assets and financial liabilities
Transfer from Level 1 to Level 2, Assets	€ 0	€ 0
Transfer from Level 2 to Level 1, Assets	0	0
Transfer from Level 1 to Level 2, Liabilities	0	0
Transfer from Level 2 to Level 1, Liabilities	0	0
Transfers into Level 3, Assets	0	0
Transfers out of Level 3, Assets	0	0
Transfers into Level 3, Liabilities	0	0
Transfers out of Level 3, Liabilities	€ 0	€ 0

Trade and other payables (Detai

Trade and other payables (Details) - EUR (€) € in Thousands	3 Months Ended
Trade and other payables (Details) - EUR (€) € in Thousands	Mar. 31, 2023	Dec. 31, 2022
Trade and other payables.
Trade and other payables	€ 14,973	€ 73,463
Amount of decrease in trade and other payables	€ 58,490

Other liabilities and provisi_2

Other liabilities and provisions (Details) - EUR (€) € in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Other liabilities and provisions
Decrease in other liabilities	€ 2,776
Decrease in provisions	588
Other liabilities (non-current)	19		€ 19
Other liabilities (current)	37,715		€ 40,491
Other operating income related the grants from government agencies and similar bodies	€ 2	€ 69

Income tax (Details)

Income tax (Details) - EUR (€) € in Thousands	3 Months Ended
Income tax (Details) - EUR (€) € in Thousands	Mar. 31, 2023	Mar. 31, 2022
Income tax
Income tax benefit/ (expense)	€ (1)	€ 96
CureVac AG
Income tax
Income tax benefit/ (expense)	€ 1

Disclosure of financial instr_2

Disclosure of financial instruments and management of financial risks - Foreign currency risk (Details) - Mar. 31, 2023 - Foreign currency risk - Cash and cash equivalents SFr in Thousands, $ in Thousands	USD ($)	CHF (SFr)
USD
Disclosure of financial instruments and management of financial risks
Exposure in (foreign) currency \| $	$ 76,186
CHF
Disclosure of financial instruments and management of financial risks
Exposure in (foreign) currency \| SFr		SFr 124

Earnings per share (Details)

Earnings per share (Details) - € / shares	3 Months Ended
Earnings per share (Details) - € / shares	Mar. 31, 2023	Mar. 31, 2022
Earnings per share
Weighted number of shares outstanding	211,444,899	186,993,831
Net loss per share basic	€ (0.27)	€ (0.08)

Related party disclosures (Deta

Related party disclosures (Details) € in Thousands	1 Months Ended		3 Months Ended	12 Months Ended
Related party disclosures (Details) € in Thousands	May 31, 2022 EUR (€)	Aug. 31, 2020 $ / shares shares	Mar. 31, 2023 EUR (€)	Dec. 31, 2021 EUR (€)	Dec. 31, 2019 loan	Sep. 30, 2021 EUR (€)
Related party disclosures
Expenses to handle future service agreement			€ 51
Dietmar Hopp
Related party disclosures
Number of convertible loans \| loan					2
Number of shares issued \| shares		100,000
Price per share \| $ / shares		$ 16
Clarentis SRL
Related party disclosures
Contractual obligation amount						€ 100
BePharBel Manufacturing S.A
Related party disclosures
Settlement amount	€ 3,900
Amount paid				€ 4,016
Baron Jean Stephenne
Related party disclosures
Equity interest held			15.61%
Vincent Stphenne
Related party disclosures
Equity interest held			1.43%
Antony Blanc \| Clarentis SRL
Related party disclosures
Consulting fees			€ 21