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CureVac N.V. (NASDAQ: CVAC) is a pioneering biopharmaceutical company based in Germany, known for its groundbreaking work in the field of messenger RNA (mRNA) technology. Founded in 2000 as a spin-off from the University of Tübingen, CureVac has developed a unique position as a leader in mRNA research and development. The company's core technology uses mRNA as a data carrier that instructs the human body to produce its own proteins capable of fighting a wide range of diseases, including cancer, infectious diseases, and rare genetic disorders.
CureVac's proprietary mRNA technology has a broad range of applications. In oncology, the company is developing both off-the-shelf and personalized cancer vaccines. Their off-the-shelf cancer vaccines target tumor antigens shared across different cancer types, while the personalized vaccines are tailored to individual patients based on their unique tumor profiles. CureVac has recently entered a collaboration with The University of Texas MD Anderson Cancer Center to further this mission.
In infectious disease, CureVac has partnered with pharmaceutical giant GSK to develop a suite of prophylactic vaccines. This includes second-generation COVID-19 vaccines and a promising seasonal influenza vaccine program. Recent Phase 2 interim data showed that CureVac's influenza vaccine candidates produce higher geometric mean titers against influenza A strains compared to licensed vaccines, though optimizations are ongoing for influenza B strains. Additionally, a new Phase 2 study has been initiated to further enhance the immune response against the relevant influenza B strain.
Financially, CureVac remains robust, with cash and cash equivalents amounting to €402.5 million at the end of 2023. The company's strategic initiatives, such as organizational redesign and partnerships, aim to extend this runway into the fourth quarter of 2025. As of late, CureVac has also achieved significant milestones in its clinical pipeline, which includes a move to Phase 2 studies for its H5N1 avian flu vaccine candidate and ongoing litigation to defend its intellectual property rights.
Overall, CureVac continues to push the boundaries of mRNA technology, with a deep clinical pipeline and strong collaborations to back its innovative discoveries. For more information, visit their official website at www.curevac.com.
CureVac N.V. (Nasdaq:CVAC) reported its financial results for the fourth quarter and full year 2022, showcasing a significant transformation in its operations driven by clinical advancements in COVID-19 and flu together with a broadened oncology footprint. The company achieved positive preliminary Phase 1 data for its modified COVID-19 candidate CV0501 and flu candidate Flu-SV-mRNA, demonstrating good tolerability and strong immune responses across age groups. CureVac ended 2022 with €495.8 million in cash, down from €811.5 million the previous year, driven by R&D expenditures. Revenue fell to €67.4 million from €103.0 million, primarily due to the cessation of collaborations and focused program adjustments. The operating loss for the year was €249.5 million, reflecting increased strategic investments.
CureVac N.V. (Nasdaq:CVAC), a biopharmaceutical company based in Tübingen, Germany, is set to report its fourth quarter and full-year 2022 financial results on April 25, 2023. The company will also offer business updates during a conference call at 3 p.m. CET / 9 a.m. EST. Interested parties can join via U.S. Toll-Free number or through international dial-in options. A live webcast will also be available on the CureVac website. This announcement follows CureVac's notable history in developing mRNA technology, including a partnership with GSK for vaccine development. With over 20 years of expertise, CureVac continues to build a robust clinical pipeline targeting various diseases.
CureVac N.V. (NASDAQ:CVAC) announced the results of its extraordinary general meeting held on March 28, 2023. Shareholders approved all proposals, including the appointment of Dr. Alexander Zehnder as CEO starting April 1, 2023, and Dr. Myriam Mendila as CDO, effective February 1, 2023. A detailed vote tabulation will be released soon. CureVac specializes in mRNA technology with over 20 years of expertise, focusing on developing vaccines and therapies for various diseases. The company collaborates with GSK on new mRNA product development.
CureVac (NASDAQ:CVAC) announced the successful closing of a $250 million follow-on public offering, comprising 27,027,028 common shares sold at a price of $9.25 each. The offering was facilitated by major financial institutions including Goldman Sachs, Jefferies, and SVB Securities. The proceeds are intended to support the company's mRNA technology initiatives, which include vaccines for infectious diseases and therapies for various conditions. CureVac’s innovative approach positions it well within the biopharmaceutical landscape, emphasizing its commitment to enhancing patient care through advanced mRNA solutions.
CureVac N.V. (NASDAQ:CVAC) announced a proposed public offering of $200 million of its common shares, with the option for underwriters to purchase up to 15% more within 30 days. The offering will be conducted under an automatically effective shelf registration statement filed with the SEC. Bookrunners include Goldman Sachs, Jefferies, and SVB Securities. CureVac specializes in mRNA technology, with plans for further product development, including COVID-19 vaccines in collaboration with GSK. The actual size and terms of the offering are subject to market conditions.
CureVac N.V. (Nasdaq: CVAC) announced the appointment of Myriam Mendila as Chief Development Officer. With over 20 years of experience in global product development, particularly in oncology, Mendila's expertise is expected to strengthen CureVac's mRNA product pipeline. CEO Franz-Werner Haas emphasized her role at this critical juncture for the company, especially following recent positive data updates from COVID-19 and flu programs. Mendila held significant positions at Roche, Genentech, and Novartis, contributing to her strong background in pharmaceutical development. CureVac continues to focus on advancing its clinical pipeline in various therapeutic areas.
CureVac N.V. (Nasdaq:CVAC) announced promising preliminary data from Phase 1 clinical studies focusing on older adults in COVID-19 and seasonal flu programs. In the COVID-19 program, the monovalent mRNA vaccine, CV0501, demonstrated significant neutralizing antibody titers against the BA.1 variant in individuals aged 65 and older. The flu candidate, Flu-SV-mRNA, showed antibody levels approximately 2.3 times higher than those elicited by the licensed vaccine in adults aged 60-80. Both candidates are set for further clinical development stages in collaboration with GSK in 2023.
CureVac N.V. (NASDAQ:CVAC) announced Dr. Franz-Werner Haas will step down as CEO on March 31, 2023, after a decade with the company. Dr. Alexander Zehnder will succeed him from April 1, 2023, bringing extensive experience from roles at Sanofi and Roche. The transition reflects an important phase for CureVac, especially following recent clinical validation of its mRNA technology platform, aiming to establish the company as a commercial player. The leadership change is expected to have significant implications for the company's strategic direction and market positioning.
CureVac (Nasdaq: CVAC) announced positive preliminary data from ongoing Phase 1 studies of its modified mRNA vaccine candidates for COVID-19 and flu. The candidates utilize CureVac's advanced second-generation mRNA backbone which enhances immune responses at lower doses. The COVID-19 monovalent candidate CV0501 showed strong antibody responses against the Omicron variant BA.1, while the flu vaccine candidate Flu-SV-mRNA also demonstrated robust immunogenicity comparable to a licensed vaccine. CureVac plans to advance both candidates to subsequent clinical phases in 2023.
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