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Why CureVac Stock Is Getting Crushed Today

TheMotleyFool

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Why CureVac Stock Is Getting Crushed TodayPhoto, wide shot, wide-angle lens, Mental health care service, Midday, harsh overhead sunlight, directional sunlightt, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/7ce3b930-5e2a-4215-b686-0ad0eb0b922a.png

Shares of German biotech CureVac (NASDAQ: CVAC) are down by a hefty 49.9% as of 9:47 a.m. EDT Thursday morning. The biotech's shares are getting walloped today in response to disappointing late-stage trial results for its COVID-19 vaccine candidate known as CVnCoV.

Specifically, CureVac reported that the experimental vaccine completely whiffed on its second interim analysis. Despite being a messenger RNA (mRNA) vaccine, which is the same platform used to develop the Pfizer/BioNTech and Moderna vaccines, this early peek revealed that CVnCoV was less than half as effective (47%) as its predecessors at preventing COVID-19 infections.

Image source: Getty Images.

Source Fool.com

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