CureVac is sinking nearly 50% after the vaccine showed less efficacy against the coronavirus than competitors – Markets

Shares of CureVac, the German drugmaker that also trades on Wall Street, fell nearly 50% after the US session closed, in response to a preliminary study showing that the covid-19 vaccine is only 47% effective, far below its competitors.

The study included about 40 thousand volunteers, of whom 134 were infected with the Corona virus. The company did not disclose key details in this preliminary study, but it is estimated that the vaccine may be less effective in the elderly than in young adults, according to “Chief Technology Officer”, Mariola Voten-Mlicic.

These numbers are much lower than competitors. In two doses, Pfizer was 95% effective in preventing symptoms consistent with COVID-19 infection. After the second dose of Moderna, this vaccine showed an efficacy of 94.1% and BJ & Johnson showed an efficacy of 66%.

a New York times He cites experts who say that CureVac’s results may be as mixed as its competitors, because when the clinical trials for Pfizere a Moderna were conducted, there weren’t as many covid-19 variants as they are today.

Although the results are preliminary, the findings call into question the future of the CureVac vaccine as wealthier nations make additional efforts to vaccinate the entire population as quickly as possible. However, despite the low effectiveness, CureVac plans to end its trial and plans to obtain regulatory approval, CEO Franz Werner Haas said.

“There is a huge need for a vaccine and I think we can still make a contribution,” Haas said. The company’s shares are down more than 50% in after-market trading, after rising 17% this year.

If approved, the syringe could give a “boost” to vaccination in the most backward countries in this field, since it is not necessary to freeze vaccine doses at very low temperatures.