Curevac continues to post losses: work on cancer vaccine
The Tübingen-based biotech company Curevac is still struggling with the failure of its coronavirus vaccine. The operating loss amounted to 186.2 million euros in the first nine months of the year, as the company announced in Tübingen on Tuesday. In the same period last year, the loss amounted to 127.9 million euros. "The operating result was influenced by several significant factors, mainly related to the completion of our efforts to develop a first-generation vaccine for Covid-19," the company explained. A net result was not disclosed.
According to the statement, turnover amounted to 31.2 million euros up to September 30. In the same period last year, the figure was 55.7 million euros. The company expects to be able to launch its first product on the market in the next few years.
In the wake of the coronavirus pandemic, Curevac was initially considered one of the hopefuls in the development of a vaccine against the virus. However, the company withdrew its first coronavirus vaccine candidate from the approval process due to its comparatively low efficacy. Curevac is working with its British partner GlaxoSmithKline (GSK) on the development of a new second-generation coronavirus vaccine.
The biotech company is currently also continuing to focus on the development of an mRNA-based cancer vaccine. A Phase 1 clinical trial is on schedule, Curevac announced. The first data analysis is expected in the second half of 2024. "Cancer will no longer be a death sentence," Curevac CEO Alexander Zehnder told Bild at the beginning of the month. The aim is to bring the cancer vaccine onto the market by 2028 at the earliest.
Curevac's ongoing research in the field of medicine includes the development of an mRNA-based cancer vaccine, with quarterly figures indicating that a Phase 1 clinical trial is on schedule, and the first data analysis is expected in 2024. Despite facing financial losses due to the coronavirus vaccine, Curevac remains committed to launching its first product on the market within the next few years.
Source: www.dpa.com
