CureVac is a clinical-stage biopharma company working for the development of medications for curing solid tumors, rabies vaccination, and even coronavirus vaccination trials. The company’s leading clinical programs are already at Phase 1, which makes it a choice for many investors to invest their funds in particular stocks. The mRNA vaccination program by CureVac is already under Phase I trials. The company has collaboration with big names like GSK, Eli Lilly & Co., Boehringer Ingelheim GmbH, Genmab BV, and many other big names in the pharmaceutical industry. The headquarters of CureVac is situated in Germany and it was founded in 2020.
CureVac is working efficiently in the production of Covid-19 vaccines with its specialized messenger RNA technology. The stocks went 2.5x times on Friday and reached a level of about $80 per share. The initial public offering by the company was $16 per share and it went to $44 per share in the beginning and almost doubled the value.
The messenger RNA technology of CureVac is the basis for the development of many leading Covid-19 vaccinations. This is one of the major reasons that the analysts are optimistic about this stock. The company has come into competition with the RNA specialist programs like BioNTech (Market cap: $16.3 B) and Moderna (Market cap: $27.3 B) which are driven by the hope of developing a successful Covid-19 vaccination. Neither of these companies has yet marketed its products in the company.
CureVac has not disclosed much about its Covid-19 vaccination work. CEO has told that there are many hopes to start a pivotal study of the experimental Covid-19 vaccination before December this year. Even the delivery deals are being negotiated. The company had a major focus on prophylactic vaccinations before 2018 and after Daniel Menichella tool the position of CEO, the company’s focus shifted towards rare-diseases and cancer drugs.
CureVac has raised more than $213.3 M value in its IPO. With the shares priced at $16 each, the company offered 13,333,333 shares in the IPO. There is a 30-day option given for the underwriters for purchasing the additive 1,999,999 shares at the same price at which the IPO was launched. The IPO plans would end on 18 August 2020. CVAC is the stock ticker for CureVac and it offered the shares on Nasdaq Global Market. The company has offered all its shares in the IPO and plans to use its funds for specifically fueling the mRNA vaccine program for Coronavirus. It is even expecting to make use of the money for short-term manufacturing goals and funding the recent clinical trials.