Curevac is still struggling with the effects of the canceled corona vaccine, according to a statement from the Tübingen biotech company.
The Tübingen biotech company Curevac continues to struggle with the costs of its failed corona vaccine from last year. The first quarter of 2022 was still impacted by effects related to previous commitments for the first-generation vaccine candidate (CVnCoV), CFO Pierre Kemula said on Wednesday, according to the release. The focus now is on further controlling costs.
Accordingly, the loss before taxes amounted to EUR 15.2 million in the first quarter of 2022 (2021: EUR 112.2 million). Revenue increased to 24.4 million euros, an increase of 14.4 million euros compared to the same period in 2021.
Curevac started a clinical study of its new vaccine candidate (CV2CoV) against Corona at the end of March 2022. After CVnCoV withdrew from the approval process last year due to comparatively weak effectiveness, Curevac and its British partner – the pharmaceutical company GlaxoSmithKline (GSK) – began developing a new vaccine.
The preparation of the Tübingen company is a so-called mRNA vaccine – like the vaccines from Biontech/Pfizer (Germany/USA) and Moderna (USA). According to Curevac, data from the new phase 1 study are expected in the second half of 2022.
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