CureVac Stock Up on Report of Phase 1 Virus Vaccine Progress

CureVac shares were higher after the biopharma reported progress with a Phase 1 trial of its coronavirus vaccine.
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CureVac CVAC shares rose after the biopharmaceutical company reported more details about its Phase 1 trial for a messenger ribonucleic acid coronavirus vaccine.

“The previously announced interim data showed that CVnCoV was generally well tolerated across all tested doses (2-12µg) and induced strong binding and neutralizing antibody responses in addition to first indication of T cell activation,” the Tubingen, Germany, company said in a statement.

“The quality of immune response was found to be comparable to recovered covid-19 patients, closely mimicking the immune response after natural covid-19 infection.”

The results will be submitted for publication in a peer-reviewed journal, CureVac said.

The shares recently traded at $59.10, up 8.1%. They have eased 2% year to date.

CureVac’s news comes on the heels of Pfizer’s  (PFE) - Get Report Monday announcement that its coronavirus vaccine was 90% effective in late-stage trials and that it planned to seek emergency-use authorization from the U.S. Food and Drug Administration later this month.

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Pfizer said it saw no serious safety concerns from its ongoing trial and expected to have as many as 1.3 billion doses produced next year if and when regulators clear the drug for marketing. 

Pfizer received fast-track designation from the FDA in July based on preliminary data from Phase 1 and Phase 2 studies.

"Fast track is a process designed to facilitate the development, and expedite the review of drugs to treat serious conditions and fill" unmet medical needs," the FDA says on its website

Its Phase 3 trial should be concluded in early December, Pfizer said, with analysis from around 164 infections. The 90% efficacy rate, Pfizer said, was identified from 94 confirmed cases who received two doses of the vaccine.