Court ruling cuts CureVac shares by 30%

20 December 2023

Shares in German biopharma CureVac (Nasdaq: CVAC) closed nearly 30% lower on Tuesday.

The mRNA specialist had earlier announced that a federal court in Germany had denied the validity of an intellectual property (IP) patent related to the use of this technology in COVID-19 vaccines.

"We strongly believe that CureVac’s role in laying the scientific groundwork for those vaccines needs to be recognized"This ruling went the way of BioNTech (Nasdaq: BNTX), a fellow Germany mRNA company which successfully brought the Comirnaty COVID-19 vaccine to market alongside US pharma giant Pfizer (NYSE: PFE).

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