CureVac NV Ordinary Shares

CVAC: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$9.34	Gqrhk	Ntsxgvqf

CureVac Progresses mRNA Candidates, Reports Positive Phase 1 Oncology Results; $15.40 FVE

Rachel Elfman

Nov 28, 2022

CureVac is focused on expanding its mRNA pipeline candidates, and preliminary data from its phase 1 study of oncology candidate CV8102 demonstrates a positive safety profile and promising results showing CV8102’s ability to mobilize the immune system against tumors. Five out of 30 patients experienced a partial response to CV8102, and responses appeared durable for up to one year from the start of treatment. We assign CV8102 a 10% probability of approval in our base case; if approved, we forecast it could reach the market as early as 2025.

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