Why CureVac Shares Are Trading Lower Today

CureVac NV CVAC is trading lower Tuesday after the company announced it will focus its COVID-19 vaccine development towards the development of second-gen mRNA vaccine candidates in collaboration with GSK and to withdraw its first-gen vaccine from EMA approval process.

CureVac estimates that the earliest potential approval of its first-gen vaccine would come in the second quarter of 2022. By that time, the company expects the candidates from the second-generation vaccine program to have progressed to late-stage clinical development.

“The global fight against COVID-19 continues, and we remain committed to making a difference with a safe and efficacious vaccine. This goal has not changed, but the requirements to effectively address the virus and emerging variants have changed," said Franz-Werner Haas, CEO of CureVac.

"In the ongoing transition from acute pandemic to endemic, our decision to withdraw CVnCoV from the regulatory approval process and focus our efforts on second-generation mRNA vaccine candidates reflects expected changes in public health needs that our second generation can potentially address."

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.

CVAC Price Action: CureVac has traded as high as $151.80 over a 52-week period. It is making new 52-week lows in trading Tuesday

The stock was down 8.3% at $39.59 at time of publication.

Photo: Jernej Furman from Flickr.