CureVac NV Ordinary Shares
CVAC: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$6.69 | Prrj | Zfddmqmc |
CureVac Earnings: Early-Stage Pipeline Makes Progress; GSK Agreement and Reorganization Extend Cash
No-moat CureVac provided an update on its early-stage pipeline candidates making progress in the first half of 2024, and we appreciate that its wholly owned cancer vaccine candidate for glioblastoma, CVGBM, is advancing to part B of a phase 1 study. CureVac’s progress is tracking our expectations, and we maintain our fair value estimate of $4.57 per share. We assign CVGBM a 10% probability of approval in our base case, and we think it could reach the market as early as 2028.