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CureVac Continues Rally Following Lawsuit Against BioNTech

Shares of biopharmaceutical company CureVac N.V. (CVAC) are rising 8 percent on Wednesday's trading. The stock has been moving upwards since Tuesday following news of the company filing a patent infringement lawsuit in Germany against BioNTech to assert the company's intellectual property rights which contributed to COVID-19 vaccine development.

The company said the CureVac intellectual property portfolio protects multiple inventions that are considered essential to the design and development of BioNTech's SARS CoV-2 mRNA vaccine, among others.

CureVac believes its intellectual property rights need to be acknowledged and respected in the form of a fair compensation to reinvest into the further advancement of mRNA technology.

Currently at $15.32, the stock has traded between $12.90 and $75.68 during the past 52 weeks.

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