CNN News: CureVac shares drop 45% after disappointing Covid vaccine results

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Earlier last year when German biotech company, CureVac, went public, its shares soared in the hopes of developing an effective COVID-19 vaccine. CVnCoV vaccine, like the highly successful Pfizer and Moderna, uses messenger RNA. However, shares in CureVac dramatically plummeted when the interim results showed only 47% efficacy in preventing symptomatic disease. These disappointing and unexpected results wiped nearly $8 billion off the company’s market value. In the context of at least 13 variants circulating within the study population, the vaccine did not meet the prespecified statistical success criteria. The company is moving forward with its final analysis with a minimum of 80 additional cases and according to CureVac CEO, Werner Haas, they are hopeful that the overall vaccine efficacy may change. It is interesting to point out that even though the vaccine mechanism is similar to that of Pfizer and Moderna, CureVac uses unmodified mRNA. It is not clear whether that is what made the difference. Read the full article here

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