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CureVac B.V., a Dutch biopharmaceutical company, filed for an initial public offering on Friday, with plans to list on Nasdaq under the ticker “CVAC.” The company intends to sell over 13 million common shares at around and per share.CureVac, a biopharmaceutical company that is developing medicines based on messenger ribonucleic acid (“mRNA”), announced on Friday that it intends to offer and sell in an underwritten public offering of 13,333,333 common shares. In addition, CureVac also anticipates to grant the underwriters a 30-day option to purchase up to an additional 1,999,999 common shares at the initial public offering (IPO) price. According to the company, the IPO price is expected to be between .00 and .00 per common share. CureVac applied to list its common shares on
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CureVac B.V., a Dutch biopharmaceutical company, filed for an initial public offering on Friday, with plans to list on Nasdaq under the ticker “CVAC.” The company intends to sell over 13 million common shares at around $14 and $16 per share.
CureVac, a biopharmaceutical company that is developing medicines based on messenger ribonucleic acid (“mRNA”), announced on Friday that it intends to offer and sell in an underwritten public offering of 13,333,333 common shares. In addition, CureVac also anticipates to grant the underwriters a 30-day option to purchase up to an additional 1,999,999 common shares at the initial public offering (IPO) price. According to the company, the IPO price is expected to be between $14.00 and $16.00 per common share. CureVac applied to list its common shares on the Nasdaq Global Market under the ticker symbol “CVAC”.
Those acting as joint book-running managers for the proposed offering will include BofA Securities, Jefferies and Credit Suisse. In addition, Berenberg and Kempen & Co were announced to act as passive book-running managers.
CureVac Hunt for a Covid-19 Vaccine
According to CureVac, it intends to use the IPO proceeds to fund the Company’s mRNA vaccine program against SARS-CoV-2 through the completion of Phase 3. In addition the company will use the capital to fund the expansion of the short term manufacturing capabilities.
CureVac also anticipates to use the money to advance its lead oncology program, CV8102, through the completion of the Phase 2 clinical trial. Besides those primary projects, it expects to use the money to advance the vaccine program, CV7202 in rabies through the completion of the Phase 2 clinical trial. Finally the money is also planned to further development of its mRNA technology platform and to advance the development of other preclinical and clinical programs. The company has been on the forefront in developing a vaccine against the COVID-19 with European countries expected to be among the first clients.
CureVac has been in coin private funding, gaining millions to further its program. Last month, the company announced the closing of its latest private financing round, raising a total of $640 million. In addition, it entered into a €75 million loan agreement with European Investment Bank (EIB) to support its ongoing development of vaccines.
During its early development stages, the company announced positive pre-clinical results at a low dose for its lead vaccine candidate against the Coronavirus (SARS-CoV-2). According to its data analysis, the results showed a fast induction of a balanced immune response with high levels of virus neutralizing titers (VNTs) and T-cell responses.
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