what happened
Shares of CureVac (NASDAQ: CVAC) rose nearly 17% on Thursday after the company announced it had a well-known and well-known partner to get its coronavirus vaccine on the market.
Approximately
CureVac said it has signed a collaboration and service agreement with the global pharmaceutical power plant Bayer (OTC: BAYR.Y) regarding the former’s candidate for coronavirus vaccination, CVnCoV.
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CureVac said that under the agreement, the financial terms of which were not disclosed, “CureVac will be the holder of marketing authorizations for the product, while Bayer will support CureVac with country operations within the European Union (EU) and selected additional markets.” Bayer also has options to become a marketing holder outside of Europe, his partner added.
According to biotechnology, it is in a position to provide ‘hundreds of millions’ of vaccine doses worldwide. Last month, CVnCoV entered Phase 3 clinical trials. As it is still being evaluated, it has not been approved for use anywhere.
Now what
It is difficult to accurately assess how this could affect the basics of CureVac, as we do not know the financial framework of the transaction. And it is almost self-evident that there is no guarantee that CVnCoV will be successful in its current test round, not to mention the approval of the regulations.
Regardless of the terms of the partnership with Bayer, it will be a great blessing for CVnCoV to have such a powerful international partner if it tests well and eventually goes to market. Today’s share price was justified on that basis.