CureVac is a German biotechnology company that specializes in the development of messenger RNA (mRNA) vaccines and therapies.
CureVac has been focused on using mRNA technology to develop vaccines against various diseases. The company has several product candidates in various stages of development, including a COVID-19 vaccine candidate, which is in clinical trials. It also has mRNA therapies in development for cancer.
Why Did CureVac Stock Rise Today?
CureVac (CVAC) saw an upward trend on Tuesday, rising as much as 19.1%. This marks the third consecutive day that the stock has been higher than the previous day. In spite of the share price surge, the last year has been rough; CVAC has fallen by nearly 60%.
So, what sparked the rally?
The company reported that several of its messenger RNA vaccines were showing positive results in their early trials.
Specifically, the company stated that its COVID-19 vaccine candidate, CV0501, was able to effectively boost antibodies against the omicron BA.1 variant in healthy adults and was well tolerated.
Plus, management reported that its Flu-SV-mRNA vaccine was able to boost antibodies against the current flu strain. The progress comes on the back of a partnership with GlaxoSmithKline.
What The Future Holds For CureVac?
In December, the company reported that its candidate had not met the statistical criteria for success in its phase 3 trial, with an efficacy rate under 50%. However, the company was unable to draw conclusions about the efficacy for participants who are categorized as seniors.
CureVac attributed the lower performance to the high number of variants present, impacting the candidate’s performance. The company also stated that it would wait until final data analysis was completed before determining the regulatory path. In the adult group up to age 60, the vaccine candidate showed an overall efficacy of just over 50%.
Can CureVac Compete Against Pfizer and Moderna?
CureVac management announced that it is in discussions with the European regulatory agency in regards to its regulatory submission.
It’s evident that there is a high demand for vaccine doses in all regions of the world. Still, CureVac has to compete with stronger vaccines in the market. Moderna and Pfizer, in particular, have been increasing their production capabilities and the odds favor governments choosing them over CureVac due to their higher efficacy rates.
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