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CureVac Shares Rise on Talks with EC to Supply 405 Million mRNA-Based COVID-19 Vaccine Doses

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CureVac NV shares traded 13% higher after the company reported it is in advanced discussions with the European Commission to supply up to 405 million doses of a potential mRNA-based COVID-19 vaccine.

CureVac NV (CVAC:NASDAQ), which is focused on the development of therapeutic medicines and vaccines based upon messenger ribonucleic acid (mRNA), announced today that it has concluded exploratory talks with the European Commission outlining "an Advanced Purchase Agreement for its potential mRNA-based COVID-19 vaccine."

CureVac indicated that once its mRNA-based vaccine has been proven to be safe and effective against COVID-19, it envisions that its contract with the European Commission will be structured for the firm to supply all EU member states with up to 225 million doses with an option for the purchase of 180 million additional doses.

The firm noted that its mRNA-based SARS-CoV-2 vaccine candidate is presently being evaluated in a Phase 1 clinical trial at sites in Germany and Belgium. The company advised that the study's primary objectives are to determine optimal dosage amounts and to evaluate the safety and immunological profile of the vaccine in humans. CureVac stated that it expects to receive the first results from the study in early Q4/20 and plans to use that data in order to initiate a Phase 2b/3 clinical trial also in Q4/20.

CureVac CEO Dr. Franz-Werner Haas commented, "In the current pandemic, we are very pleased to further strengthen the European Commission's endeavor to provide rapid access to a safe and effective vaccine against the COVID-19 virus across Europe and beyond. Assuming positive results from our ongoing clinical trials and approval from the regulatory authorities, we are fully committed to ensure broad access to our vaccine."

CureVac is a global clinical-stage biopharmaceutical company based in Tübingen, Germany with offices in Frankfurt and Boston. The firm concentrates its efforts on developing novel medicines that utilize messenger RNA (mRNA) as a data carrier for information to instruct the human body to produce its own proteins capable of fighting a wide range of diseases. The company listed that "it applies its technologies for the development of prophylactic vaccines, cancer therapies, antibody therapies and the treatment of rare diseases."

CureVac NV started the day with a market capitalization of around $10.1 billion with approximately 178 million shares outstanding. CVAC shares opened nearly 11% higher today at $63.00 (+$6.10, +10.72%) over yesterday's $56.90 closing price. The stock has traded today between $60.70 and $66.88 per share and is currently trading at $64.71 (+$7.81, +13.73%).


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