(Teleborsa) – Sinks on Wall Street Curevac, with prices aligned at 63.63 for a 3.66% drop. The stock suffers from the fact that the German biopharmaceutical company has cut production plans for its Covid-19 vaccine, still under approval. The decision was made in response to “reduced short-term peak demand for vaccines following the first wave of pandemic vaccination efforts” and corresponding changes in demand for its Covid-19 vaccine candidate. . In July, the company reported disappointing results for its first generation of vaccines, while efficacy looks better in the second generation developed with GSK.
Curevac will terminate the contracts existing with Wacker and Celonic, while the agreements with Novartis, Bayer, Rentschler and Fareva will not be affected. “The continued increase in mRNA production capacity, coupled with the advancement of large-scale vaccination efforts, has strongly changed the demand for our vaccine First generation Covid-19, CVnCoV, in recent months, ”said Malte Greune, Chief Operating Officer of CureVac. The financial terms of the termination of the contracts will not be disclosed, the company added.
Higher expectations see an extension of the downside towards the area of support estimated at 62.08 and later at 60.52. Resistance at 65.29.