CVAC - CureVac extends gains as new CEO is set to take reins

CureVac N.V. ( NASDAQ: CVAC ) rose for the third straight session on Tuesday, extending recent gains made from encouraging early-stage data for its mRNA-based vaccines and following the appointment of Sanofi ( SNY ) executive Alexander Zehnder as its new CEO.

CureVac ( CVAC ) develops modified-mRNA-based vaccines targeted at COVID and flu in partnership with GSK ( GSK ). The interim Phase 1 data for the candidates sent CureVac ( CVAC ) shares ~29% higher on Friday leading to the stock's biggest-ever intraday gain.

On Monday, the company shares added another ~25% after announcing the appointment of Zehnder as CEO effective Apr. 01 as the current CEO Franz-Werner Haas leaves his position on Mar. 31.

"The recent clinical validation of the power of CureVac's proprietary mRNA-technology platform represents an important inflection point to start turning the company into a relevant commercial player," Jean Stéphenne, Chairman of the CureVac ( CVAC ) Supervisory Board, remarked.

Zehnder, currently the Global Head of Oncology at Sanofi ( SNY ), has also served as the global franchise head of Roche's ( OTCQX:RHHBY ) ( OTCQX:RHHBF ) blockbuster cancer drug Avastin.

Read: CureVac ( CVAC ) is entering a highly competitive market with its mRNA technology, Seeking Alpha contributor Alberto Abaterusso argued Saturday.

For further details see: