(Update to add German regulators' clearance of BioNTech acquisition in the sixth and seventh paragraphs)

CureVac (CVAC) reported Q3 earnings Monday of 1.21 euros ($1.40) per diluted share, down from 1.50 euros a year earlier.

Revenue for the quarter ended Sept. 30 was 54.1 million euros, down from 493.9 million euros a year earlier.

Two analysts polled by FactSet expected 21.4 million euros.

The decline in revenue was primarily driven by the absence of a one-time revenue of 480.4 million euros recognized in Q3 2024 in connection with the new license agreement with GlaxoSmithKline Biologicals.

As of Sept. 30, the company said it had 416.1 million euros in cash and cash equivalents. It also reaffirmed its expected cash runway into 2028.

CureVac said the German Federal Cartel Office has approved BioNTech's (BNTX) planned acquisition of the company, a key step in completing the deal later this year.

BioNTech's public exchange offer for all CureVac's shares will run until Dec. 3, the company said, adding that it has scheduled an extraordinary general meeting of shareholders on Tuesday in connection with the offer.