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COVID-19 vaccine developer CureVac plans five million share sale

Published 01/25/2021, 06:44 PM
Updated 01/25/2021, 06:45 PM
© Reuters
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(Reuters) - German biotech firm CureVac plans to sell 5 million shares in a secondary offering, the company said on Monday, as it starts late-stage trials of its COVID-19 vaccine candidate.

The proceeds will be used to fund its messenger RNA-vaccine program and expand its in-house manufacturing capacities, the company said.

Earlier this month, CureVac struck an alliance with drugmaker Bayer AG (DE:BAYGN) to help develop its experimental COVID-19 vaccine.

CureVac's shares fell 3.3% to $101.01 in extended trading on Monday.

The Nasdaq-listed company, which is backed by investors Dietmar Hopp, the Gates Foundation and GlaxoSmithKline (NYSE:GSK) as well as the German government, has said it aims to produce up to 300 million doses of the vaccine in 2021 and up to 600 million in 2022.

 

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