curevac-stock-soars-after-talks-of-supplying-vaccines-for-the-eu

CureVac Stock Soars After Talks of Supplying Vaccines for the EU

CVAC), has gained some major heat since making its debut in the public market less than two weeks ago. The company saw its shares nearly tripled in value on the first day of trading and CureVac stock rose from $16 per share to $44.” data-reactid=”12″ type=”text”>German biotech firm, CureVac (NASDAQ: CVAC), has gained some major heat since making its debut in the public market less than two weeks ago. The company saw its shares nearly tripled in value on the first day of trading and CureVac stock rose from $16 per share to $44.

A needle rests on a reflective table next two clear glass vials of a clear liquid.

Source: Shutterstock

raise $213 million at its initial public offering (IPO) on the Nasdaq which boosted its market valuation to $2.8 billion.” data-reactid=”29″ type=”text”>The need for a vaccine to combat the virus has put biotech firms like CureVac on the hotlist for many investors. The company was able to raise $213 million at its initial public offering (IPO) on the Nasdaq which boosted its market valuation to $2.8 billion.

As progress towards a Covid-19 vaccination continues, CureVac stock remains an attractive biotech investment.

InvestorPlace – Stock Market News, Stock Advice & Trading Tips” data-reactid=”31″ type=”text”>InvestorPlace – Stock Market News, Stock Advice & Trading Tips

The coronavirus has wreaked havoc on economies across the globe and claimed the lives of more than 750,000 people. The development of a vaccine for the virus has thrust, biotech firms like CureVac into the spotlight.

NVAX) and Inovio Pharmaceuticals (NASDAQ: INO).” data-reactid=”36″ type=”text”>Although CureVac is fairly new to the U.S biotech market, its successful IPO debut has already put the firm ahead of rivals like Novavax (NASDAQ: NVAX) and Inovio Pharmaceuticals (NASDAQ: INO).

A major reason for this is because of the company’s success with mRNA research. mRNA is a crucial element in developing a cure for the virus because it can generate the antibodies required for the vaccine.

In the race to develop a vaccine, investors are willing to put their money behind companies who are able to produce the vaccine quickly and at scale. CureVac’s positive results in its Covid vaccine pre-trials generated a lot of interest among investors.

MRNA) that was able to achieve the same result on a higher dosage (100 micrograms). This gave the company a competitive edge in the U.S market.” data-reactid=”39″ type=”text”>In the first phase, the company was able to produce a vaccine that showed promising signs on a much lower dosage (2-6 micrograms) over competitors like Moderna (NASDAQ: MRNA) that was able to achieve the same result on a higher dosage (100 micrograms). This gave the company a competitive edge in the U.S market.

Although CureVac has made significant progress towards a vaccine, it still remains marginally behind bigger biotech firms.

just $3.1 million. Many investors remain wary of CureVac stock and believe the company is grossly overvalued.” data-reactid=”41″ type=”text”>As of this writing, the company’s market cap sits at $11.82 billion but revenues in its most recent quarter were recorded at just $3.1 million. Many investors remain wary of CureVac stock and believe the company is grossly overvalued.

However, given the uncertainties that exist in the economic environment and the burgeoning need for a vaccine to combat the pandemic, this biotech stock is worth your investment despite its inflated numbers.

rose by 9.8% after the announcement was made.” data-reactid=”44″ type=”text”>After its IPO high on August 13, CureVac stock saw a second surge in its share price last Thursday. This bump comes after talks of the company supplying a Covid-19 vaccine to the European Commission (EC). The stock price rose by 9.8% after the announcement was made.

While the deal has not been finalized, CureVac is in advanced talks with the Commission to supply 225 million doses of the vaccine to European member states. In addition to this, they will also supply the executive arm of the branch with an additional 180 million doses, bringing the total vaccine count to 405 million.

Even if the potential deal goes through, the actual delivery of the vaccines will not take place unless they are fully approved. CureVac is currently in the first phase of its clinical trials and will use mRNA technology to create the final product. The biotech firm expects to get results from this trial at the start of the fourth quarter.

CureVac will be able to use the money raised from its IPO to further the development of the vaccine. Franz-Werner Haas, the CEO of CureVac says that the vaccine will have a list price of 10-15 euros and will be available to the public by mid-2021.

GSK) and Sanofi (NYSE: SNY) for the advance purchase of its vaccines.” data-reactid=”48″ type=”text”>The EC is also in early talks with GlaxoSmithKline (NYSE: GSK) and Sanofi (NYSE: SNY) for the advance purchase of its vaccines.

received a $356 million investment from the German government for research and development.” data-reactid=”50″ type=”text”>As a pioneer of mRNA technology, CureVac is a major contender in the race to develop the Covid vaccine. The company is also backed by Bill and Melinda Gates and received a $356 million investment from the German government for research and development.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top