Coronavirus vaccine developer CureVac shares surge in U.S. debut [Reuters]
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Source: Reuters
Coronavirus vaccine developer CureVac shares surge in U.S. debut (Reuters) - Shares of German biotechnology firm CureVac BV nearly tripled in their Nasdaq debut on Friday, marking the first stock market debut of a company developing a potential vaccine to combat the novel coronavirus. The stock opened at $44 per share, up from the initial public offering (IPO) price of $16 per share. CureVac, backed by Microsoft Corp founder and billionaire Bill Gates, sold 13.33 million shares at $16 apiece, the top end of its indicated price range of between $14 and $16 per share. The company, which started an early-stage coronavirus trial in healthy volunteers in June with results expected in the final quarter of 2020, raised $213.3 million in the IPO. Proceeds from the IPO would be used to fund its COVID-19 vaccine program and manufacturing capabilities, CureVac said in a regulatory filing. The company is working to expand its capacity with a new manufacturing facility in Germany that will be capa
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