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CureVac Shares Down 5% On Cancelling Certain Covid Vaccine Manufacturing Deals

Shares of German biotechnology firm Curevac N.V (CVAC) are down 5 percent on Tuesday's trading on news of the company cancelling two manufacturing deals for its experimental COVID-19 vaccine.

Curevac said in a statement that it is cancelling the contract manufacturing deals after rival companies with approved vaccines ramped up production. The deals with Celonic Group of Switzerland and Germany's Wacker would be cancelled. However, existing production deals with Rentschler Biopharma and Novartis would continue, the company added.

Currently at $63.74, the stock has traded between $43.00 and $151.80 during the past 52 weeks.

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