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Stock Alert: CureVac Drops 50%

Shares of biotechnology company CureVac NV (CVAC) are down 50 percent on Wednesday's after-trade after the company said that its trial COVID-19 vaccine showed an efficacy of 47% against the illness.

The company's vaccine CVAC, -3.47% messenger RNA-based vaccine, has shown lesser progress compared to other vaccines from Pfizer, BioNTech and Moderna.

The stock is trading at $47.14, down $47.59 or 50% in after-trade. CVAC ended Wednesday's trade at $94.79, down $3.41 or 3% on the NASDAQ.

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