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CureVac Stock Rises on Announcement of Positive Results for COVID Vaccines

CureVac rises after the German drug company and British partner GlaxoSmithKline announce positive test results for CureVac’s mRNA COVID vaccine.
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CureVac  (CVAC) - Get CureVac Report shares rose sharply Monday after the German drug company and British partner GlaxoSmithKline  (GSK) - Get GlaxoSmithKline plc Sponsored ADR Report announced positive test results for CureVac’s mRNA COVID vaccine.

The results are “preclinical data investigating immune responses as well as the protective efficacy of CureVac’s first-generation vaccine candidate, CVnCoV, and second-generation vaccine candidate, CV2CoV, against SARS-CoV-2 challenge in non-human primates,” the companies said.

The results: “Better activation of innate and adaptive immune responses was achieved with CV2CoV, resulting in faster response onset, higher titers of antibodies and stronger memory B and T cell activation as compared to the first-generation candidate, CVnCoV,” the companies said.

“Higher antibody neutralizing capacity was observed with CV2CoV across all selected variants, including the Beta, Delta and Lambda variants.

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“During challenge with the original SARS-CoV-2 virus, animals vaccinated with CV2CoV were found to be better protected based on highly effective clearance of the virus in the lungs and nasal passages.”

Following the current preclinical development of CV2CoV, a Phase 1 clinical trial is expected to start in the fourth quarter.

CureVac recently traded at $63.95, up 9%, but has dropped 50% in the six months through Friday. GlaxoSmithKline recently traded at $41.75, down 0.52%.

CureVac also reported second-quarter earnings Monday. Revenue totaled €22.4 million ($26.9 million), down 35% from €34.5 million in the same period of 2020.

The company registered a net loss of €4.4 million, narrowing from a loss of €8.8 million last year.