Why CureVac Stock Is Getting Crushed Today

Shares of German biotech CureVac (NASDAQ: CVAC) are down by a hefty 49.9% as of 9:47 a.m. EDT Thursday morning. The biotech's shares are getting walloped today in response to disappointing late-stage trial results for its COVID-19 vaccine candidate known as CVnCoV.

Specifically, CureVac reported that the experimental vaccine completely whiffed on its second interim analysis. Despite being a messenger RNA (mRNA) vaccine, which is the same platform used to develop the Pfizer/BioNTech and Moderna vaccines, this early peek revealed that CVnCoV was less than half as effective (47%) as its predecessors at preventing COVID-19 infections. 

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Source Fool.com