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CureVac share up: buy signal tangible after nine months

CureVac has presented nine-month figures for 2020. The Tübingen-based biotech company, whose shares have been listed on the NASDAQ since August, increased sales from EUR 10.6 million to EUR 42.8 million. The third quarter of 2020 saw an increase in sales from 1.1 million euros to 5.2 million euros. The expenditures have also increased significantly: CureVac spent 76.3 million euros on research and development in the first nine months of this year after 30.7 million euros in the same period of the previous year. Administrative costs rose from EUR 28.5 million to EUR 33.1 million. In operational terms, CureVac reports a loss of 63.1 million euros after 64.4 million euros in the same period of the previous year. The bottom line is that the nine-month deficit increases from 63.9 million euros to just under 71 million euros.

“The decrease in the operating loss was mainly due to the booking of 33.1 million euros in contract liabilities when the collaboration with Eli Lilly was terminated,” said CureVac on the earnings development. In the afternoon, CureVac will present the numbers in a conference call and webcast (link).

The company put its liquid funds at more than 892 million euros at the end of September. “This increase is mainly the result of the 559.3 million euros generated in a private financing round in July 2020, the 192.9 million euros in proceeds, less subscription discounts and commissions, from CureVac’s IPO on the Nasdaq in August 2020 , the 100 million euros from Dietmar Hopp’s private placement, which also took place in August 2020, and the non-repayable advance payment of 120 million euros by GSK, ”said CureVac.

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