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CureVac Stock Down 7% After It Withdraws COVID-19 Vaccine Candidate From EMA Approval Process

Shares of CureVac N.V. (CVAC) slipped nearly 7% on Tuesday morning after the company withdraws its first mRNA-based Covid vaccine from approval process.

CVAC is currently trading at $40.27, down $2.90 or 6.73%, on the Nasdaq.

The company said it decided to withdraw its first-generation COVID-19 vaccine candidate, CVnCoV, from the current approval process with the European Medicines Agency due to potential overlap with approval timelines for a second-generation candidate. The company will focus its COVID-19 vaccine development towards the development of second-generation mRNA vaccine candidates in collaboration with GSK.

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