Why Europe Is Looking to This Company for a Coronavirus Vaccine
This stock more than tripled in its first day of trading as a public company and peaked a day later at more than five times its initial public offering price. That may sound like a story from the dot-com bubble, when we were all terrified that our computers would fail to recognize the new millennium as the calendar turned 1999 into 2000. But actually, this rocket-ship stock came public recently: CureVac (NASDAQ: CVAC) made its debut in August.
The German biotechnology company is using messenger RNA (mRNA) -- which can be described as the instructions cells use to translate DNA into action -- to develop a vaccine for COVID-19. The company has some heavyweight backing, including the Bill & Melinda Gates Foundation, the founder of software maker SAP (NYSE: SAP), the German government, and GlaxoSmithKline (NYSE: GSK). Not enough celebrity for you? The company also has a manufacturing agreement with Tesla (NASDAQ: TSLA) to build molecule printers in Germany. More about that in a bit.
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Source Fool.com
