UPDATE 2-Coronavirus vaccine developer CureVac shares surge in U.S. debut [Reuters]
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Source: Reuters
Coronavirus vaccine developer CureVac shares surge 175% in Nasdaq 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 coronavirus. The stock opened at $44 per share, up from the 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 raised $213.3 million in the IPO. CureVac is researching how to use messenger RNA to treat a series of diseases, including the coronavirus. It is an experimental approach that has also been adopted by some of its peers, including Moderna Inc and BioNTech SE. Bank of America, Jefferies, and Credit Suisse are lead underwriters for the IPO.
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