CureVac Shares Rip Higher On Coronavirus Vaccine Deal With Bayer - CureVac (NASDAQ:CVAC)

CureVac BV CVAC shares have received a nice lift and breached the $100 level for the first time in the new year.

What Happened: German coronavirus vaccine maker CureVac said Thursday it has signed a collaboration and services agreement with German chemicals company Bayer AG BAYRY for the further development, supply and territorial operations of CureVac's CVnCoV.

Bayer will pitch in with its expertise and infrastructure for clinical operations, regulatory interactions, pharmacovigilance, supply chain management and support in select territories, the statement said.

"Building on the positive data we have seen so far with CVnCoV, we now also have another strong partner on our side to get the vaccine to the people who need it following the receipt of the requisite regulatory approvals," Dr. Franz-Werner Haas, CureVac's CEO, said in a statement.

Marketing authorization for the investigational candidate in the European Union and select additional markets will be held by CureVac, while Bayer gets the option to become the marketing authorization holder in other markets outside of Europe.

Why It's Important: The tie-up with Bayer will help CureVac leverage the former's financial might, infrastructure and human resource expertise as its vaccine program moves toward regulatory filing and commercialization.

Domestic peer BioNTech SE – ADR BNTX, which has received conditional approval for its investigational coronavirus vaccine, has partnered with Pfizer Inc. PFE.

What's Next: CureVac has an ongoing pivotal Phase 2b/3 trial dubbed HERALD that is evaluating CVnCoV in adults at a 12-mcg dose. The study is likely to enroll about 35,000 participants across sites in Europe and Latin America.

CVAC Price Action: CureVac shares were trading 15.75% higher at $100.53 at last check Thursday.

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