CureVac Stock Up as EU Talks on Coronavirus Vaccine Advance

CureVac is in advanced talks with the EU to provide up to 225 million doses of an experimental coronavirus vaccine.
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CureVac CVAC shares on Thursday jumped after the German biopharma said it was in advanced talks with the European Union to provide up to 225 million doses of an experimental coronavirus vaccine.

CureVac and the EU’s executive branch, the European Commission, “have today concluded exploratory talks outlining an advanced purchase agreement for our potential mRNA-based Covid-19 vaccine,” the company said in a statement.

“The envisaged contract with the European Commission is intended to provide all EU member states with up to 225 million doses and an option for an additional purchase of 180 million doses.”

CureVac shares recently traded at $65.37, up 15%. The company went public last week at $16.

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The vaccine candidate is currently in a Phase 1 clinical trial in Germany and Belgium. “We are expecting first results in early fourth-quarter 2020,” CureVac said. 

“Based on the results of the Phase 1 clinical trial, we plan to initiate a Phase 2b/3 clinical trial, also in fourth-quarter 2020.”

Last week, the European Commission said it “concluded exploratory talks” with Johnson & Johnson  (JNJ) - Get Report to purchase 200 million doses of its coronavirus vaccine.

“The envisaged contract with Johnson & Johnson would provide for the possibility for all EU member states to purchase the vaccine, as well as to donate to lower and middle income countries or redirect to [the] European Economic Area,” the commission said.

“It is anticipated that once a vaccine has proven to be safe and effective against covid-19, the commission would have a contractual framework in place for the initial purchase of 200 million doses … and could further purchase up to an additional 200 million doses.”