CureVac Inc. (NASDAQ: CVAC) stock declined by 38.99% at the last close while the CVAC stock price gains by 11.34% in the pre-market trading session. CureVac is a multinational biopharmaceutical corporation specializing in messenger RNA (mRNA) technology. CVAC has more than 20 years of experience designing and refining versatile biological molecule for medical applications.
Moderna and Pfizer aren’t the only companies developing mRNA coronavirus vaccines. Another firm, in fact, has been gaining headway and just announced key study findings and that company is CureVac, which is German biotech.
Despite the fact that CureVac is a latecomer, investors have been watching CVAC’s vaccine narrative attentively since it has the potential to be a major supplier in Europe. CVAC has already signed an advance purchase agreement with the European Commission for up to 405 million doses.
When releasing the interim study data, CureVac CEO Franz-Werner Haas remarked, “Demonstrating strong effectiveness in this unprecedented broad range of variations is hard.” According to him, the vaccine candidate’s overall effectiveness against COVID-19 was 47%. The presence of at least 13 variations in the study group, according to CureVac, hampered effectiveness.
The vaccine candidate failed to fulfill predetermined success requirements. CureVac was also unable to reach a judgment on effectiveness in the over-60 age group due to the trial’s limitations. This is particularly terrible news, as the coronavirus has historically targeted the elderly.
In a six-month follow-up study from their phase 3 clinical studies, Moderna and Pfizer both showed overall effectiveness of greater than 90%. Their real-world data is equally enticing. In a trial of nearly 4,000 people conducted by the Centers for Disease Control and Prevention, both vaccinations were shown to be 91 percent effective.
CureVac hasn’t ruled out the possibility of a future for this vaccine candidate. When 80 additional instances are accumulated, the business aims to perform a final study, according to CVAC. There were 134 instances in the most recent study. CVAC stated at the time that effectiveness statistics might change. CureVac is awaiting the results of this last analysis before making a regulatory decision.