CureVac N.V., the mRNA-focused biopharmaceutical company, in partnership with GSK, has reached significant milestones in their clinical vaccine development programs for COVID-19 and seasonal flu. The team has successfully completed Phase 2 enrollment for their COVID-19 vaccine trial and launched Phase 2 of their seasonal flu program.
Dr. Myriam Mendila, Chief Development Officer of CureVac, confirmed the advancement of these programs following successful Phase 1 and 2 studies. The COVID-19 program's Phase 2 study enrolled 427 participants to assess the safety and immunogenicity of two modified mRNA COVID-19 vaccines: CV0601 and CV0701.
CV0601 encodes the spike protein of the omicron BA.4-5 variant, while CV0701 encodes the spike proteins of both the omicron BA.4-5 variant and the original SARS-CoV-2 strain. These vaccines are being compared with an authorized bivalent COVID-19 comparator vaccine. Interim data from this study is due in early 2024.
In the joint seasonal flu program with GSK, CureVac has begun Phase 2 after selecting a promising multivalent candidate based on positive Phase 1 interim data announced on September 12, 2023. This candidate encodes antigens that align with all World Health Organization-recommended flu strains. The vaccine will be tested across different age groups and dosage levels against licensed seasonal flu comparator vaccines, with study results also anticipated in 2024.
CureVac's advancements come from over two decades of expertise in mRNA technology, developing, optimizing, and manufacturing this versatile biological molecule for medical applications. The company partnered with GSK in July 2020 to develop new prophylactic vaccines for infectious diseases using CureVac’s second-generation mRNA technology. This collaboration later expanded to include the development of second-generation COVID-19 vaccine candidates and modified mRNA vaccine technologies.
InvestingPro Insights
CureVac's financial health and performance indicators, as provided by InvestingPro, offer a deeper understanding of the company's current standing. Despite the potential promise of its clinical vaccine development programs, CureVac holds more cash than debt on its balance sheet, indicating a strong financial position (InvestingPro Tip 0). However, it is quickly burning through cash, which may be a concern for investors (InvestingPro Tip 2). The stock price has also fallen significantly over the last three months (InvestingPro Tip 11), reflecting the company's volatile stock price movements (InvestingPro Tip 6).
InvestingPro data shows that CureVac's Market Cap stands at 1220M USD, and the company has a negative P/E Ratio of -3.48. The company's revenue for the last twelve months as of Q2 2023 was 41.04M USD but has been declining at a rate of -67.32%. The company's gross profit for the same period was negative, standing at -95.96M USD, indicating weak gross profit margins (InvestingPro Tip 5).
There are additional InvestingPro Tips available for those interested in a more detailed analysis of CureVac's financial performance and potential investment opportunities. These tips, along with the real-time data provided, can help investors make informed decisions about their investments in the biopharmaceutical sector.
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