Why did CureVac stock slip today? Declining market for COVID vaccines
Jan. 31, 2023 6:21 PM ETCureVac N.V. (CVAC)PFEBy: Jonathan Block, SA News Editor3 Comments
- CureVac (NASDAQ:CVAC) shares dropped ~7% Tuesday likely due to comments Pfizer (PFE) made earlier in the day that it expects a 64% drop in revenue from its COVID-19 vaccine.
- CureVac (CVAC) is developing its own mRNA COVID vaccine, and reported positive phase 1 results.
- However, given Pfizer's (PFE) comments on a declining COVID vaccine market, CureVac's (CVAC) shot could become available too little, too late.
- In 2023, Pfizer (PFE) expects demand for its COVID vaccine of 65M, compared to 92M doses in 2022.
- Check out Seeking Alpha contributor Derek Lowe's recent assessment of CureVac (CVAC).