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By Dhirendra Tripathi
Investing.com -- CureVac (NASDAQ:CVAC) shares dropped 45% in Thursday’s premarket trading after its candidate for COVID-19 vaccine failed to meet its main goal in late stage clinical trials.
Late Wednesday CureVac said preliminary data indicated that its jab was only 47% effective at protecting against coronavirus and added that final analysis of the trial results would be available in the coming weeks.
The HERALD study, conducted by Curevac in conjunction with Bayer (DE:BAYGN), enrolled approximately 40,000 participants in 10 countries in Latin America and Europe.
The company said demonstrating high efficacy in “unprecedented broad diversity of variants” – as many as 13 that were part of the study -- was challenging.