CureVac BV (NASDAQ: CVAC)’s Market Value Drops Significantly After Its COVID Vaccine Is Only 47% Effective In the Initial Trial

CureVac BV (NASDAQ: CVAC)’s market value dropped by several billion Euros after its coronavirus vaccine proved to be 47% active in the initial studies. It significantly lowered the confidence of the investors in its drug development capability.

It paves the way for the manufacture of rival vaccines

If the company fails in showing promising results using its coronavirus vaccine, CureVac, the German biotech firm, is likely to allow its manufacturing partners to produce the vaccines of rival companies. 

Franz-Werner Haas, CEO of CureVac, said the company is committed to getting authorization for its covid drug candidate as per the data. The company is also working with outstanding partners to utilize its capacity to manufacture rival vaccines if it fails to make its shot.

CureVac’s production partners

Its manufacturing partners are Rentschler Biopharma SE, Wacker, Fareva, Bayer, Novartis, and Celonic Group of Switzerland. 

CureVac will continue to develop next-gen vaccines under collaboration with GlaxoSmithKline. The company would utilize external producers for this drive.

Prashant Yadav, the supply chain expert, said it requires at least six to eight weeks rerouting the facilities to manufacture different mRNA vaccines of companies like Moderna and Pfizer-BioNTech.

According to Prashant, the Pfizer-BioNTech vaccine could be manufactured using the contract manufacturing facilities of CureVac because BioNTech is located in Germany. 

The manufacturing partners of CureVac are situated in Austria and Germany. 

Inducts CDO

CureVac inducted Klaus Edvardsen as Chief Development Officer. He will take charge with effect from August 1, 2021. 

CureVac’s Chairman (Supervisory Board), Jean Stéphenne, is thrilled with the induction of Edvardsen in its leadership team. Edvardsen played significant roles in clinical research and business development worldwide at prominent biopharmaceutical companies. 

Edvardsen has excellent knowledge in various therapeutic areas and research. He will play an essential role in transforming CureVac into a vertically integrated biopharmaceutical company.

CureVac’s CEO, Franz-Werner Haas, is pleased with the appointment of Edvardsen at this juncture to make a fully integrated biopharma company. Edvardsen’s expertise, especially in therapies and oncology, is beneficial for expanding its pipeline and promote growth in the future. 

Edvardsen, commenting on his appointment, said he is excited and honored to join CureVac and be part of its growth story.