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CureVac Posts Wider Loss In Q4

CureVac N.V. (CVAC) reported loss before taxes of 57.3 million euros for three months ended December 31, 2020, compared to a loss of 35.9 million euros, prior year. Operating loss was 46.6 million euros, compared to a loss of 35.1 million euros. The company said the increase in fourth quarter operating loss was mainly driven by higher research and development costs, primarily due to high costs for CVnCoV R&D activities, including research material manufacturing expenses.

Fourth quarter revenue was 6.0 million euros, a decline of 11.8% from 6.8 million euros, last year.

CureVac currently expects completing data submission in time to file for conditional approval of CVnCoV, the company's COVID-19 vaccine candidate, in second quarter, 2021. The company initiated a rolling submission with the European Medicines Agency on February 12, 2021.

Shares of CureVac were up 5% in pre-market trade on Thursday.

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