BERLIN (Reuters) -CureVac will withdraw its first-generation COVID-19 vaccine candidate and give attention to collaborating with GSK to develop second-generation mRNA vaccine expertise as a substitute, the Germany-based biotechnology firm mentioned on Tuesday.
The corporate’s shares plunged nearly 14% in afternoon buying and selling, hitting their lowest since itemizing final August.
The corporate mentioned it’ll drop its utility to the European Medicines Company for regulatory approval of its first-generation vaccine candidate CVnCoV after late-stage trials delivered disappointing outcomes with 47% efficacy in June.
There can be a possible overlap with approval timelines for a second-generation candidate.
The earliest potential approval of CVnCoV would have come within the second quarter of 2022 when the candidates from the second-generation vaccine program are anticipated to progress to late-stage medical improvement by that point, CureVac mentioned.
Consequently, the advance buy settlement the German firm signed to promote photographs to the European Union will finish, it mentioned.
It mentioned it expects to start out human trials for its second-generation shot within the subsequent months, aiming for regulatory approval in 2022. Outcomes from early-stage animal trials have proven the robust potential of the shot in contrast with the unique one, it mentioned.
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