FUBO - U.S. IPO Weekly Recap: Coronavirus Vaccine Developer CureVac Pops 249% In A 4-IPO Week
Four IPOs and six SPACs entered the public markets this past week led by CureVac (CVAC), which posted the largest first-day pop for a US IPO since 2005.
German biotech CureVac raised $213 million at a $2.8 billion market cap and soared 249% on its first day of trading. With a portfolio of mRNA-based therapies and vaccines, the company is developing a COVID-19 vaccine and has a Phase 1 candidate, which competes with other more advanced clinical candidates from large pharmas like AstraZeneca (AZN). While it has never advanced a candidate into late-stage trials. CureVac