CureVac up after SVB starts coverage with 'outperform' rating

CureVac NV

08/06/2023 15:10

** U.S.-listed shares of German drugmaker CureVac NV
 CVAC.O  up 2.6% at $10.2
    ** Brokerage SVB Securities initiates stock coverage with
"outperform" rating and PT of $13 
    ** Says it is optimistic on co's pipeline restructuring and
focus on development of modified mRNA-based vaccine candidates
for addressing infectious diseases
    ** Sees a clear path for company to durable cash flows from
the flu and COVID markets through its collaboration with GSK Plc
 GSK.L  
    ** Adds that the collaboration positions CVAC to benefit
from GSK's global infrastructure and broad vaccine portfolio 
    ** Says scarcity of small- and mid-cap mRNA platforms
positions CVAC for partnership optionality for development of
personalized and off-the-shelf cancer vaccines
    ** Co's cancer vaccine candidates pipeline is mostly in
early or pre-clinical stage of development
    ** Including session's gains, U.S.-listed CVAC shares up
68.2% YTD 

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))