CVAC Stock Price Increases 14%: Why It Happened

CureVac BV CVAC shares are trading higher by 14% at $66.16 as the stock rebounds after falling in recent sessions.

The stock dipped after the company late Wednesday announced its COVID-19 vaccine demonstrated an interim vaccine efficacy of 47% and did not meet its prespecified statistical success criteria.

See Also: Tesla Partner CureVac Says Will Find 'Sweet Spot' For COVID-19 Vaccine Despite Disappointing Data

CureVac is a clinical-stage biopharmaceutical company developing a new class of transformative medicines based on messenger ribonucleic acid that has the potential to improve the lives of people.

The company's product portfolio includes clinical and pre-clinical candidates across multiple disease indications in oncology, prophylactic vaccines and protein therapy. Its clinical programs are CV8102, which it is evaluating in Phase 1 clinical trial for the treatment of four types of solid tumors, and CV7202, which it is investigating in Phase 1 clinical trial for potential vaccination against rabies.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Long IdeasMoversTrading Ideaswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!