CureVac Shares Fall After Cutting COVID-19 Vaccine Production Plans

CureVac BV CVAC has canceled contract manufacturing deals for its experimental COVID-19 vaccine with two prospective partners.
The Company would terminate agreements with Celonic Group and Wacker, but existing production deals with Rentschler Biopharma and Novartis AG NVS would remain unchanged.
"The continuous increase in mRNA manufacturing capacity together with the progress of large-scale vaccination efforts have strongly changed the demand for our first-generation COVID-19 vaccine, CVnCoV, over the last months," said CureVac Chief Operating Officer Malte Greune.
CureVac in June and July published disappointing trial data on its initial vaccine candidate, and European regulatory approval is yet outstanding.
Related: Final Results Confirm CureVac's COVID-19 Vaccine Trails Rivals.
Read Next: Boehringer Ingelheim Scraps Lung Cancer Program With CureVac.
It is also working with GlaxoSmithKline Plc GSK on the next generation of COVID-19 vaccines.
Related Link: CureVac-GSK's Second-Gen COVID-19 Vaccine Candidate Shows Encouraging Preclinical Action Against Variants.
Price Action: CVAC shares are down 8.12% at $60.69 during the market session on the last check Tuesday.
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