TÜBINGEN, GERMANY - CureVac N.V. (NASDAQ:CVAC), a pioneer in messenger RNA (mRNA) technologies, and The University of Texas MD Anderson Cancer Center have entered into a collaboration agreement to co-develop mRNA-based cancer vaccines aimed at addressing high unmet medical needs in selected cancers.
This partnership leverages CureVac's mRNA platform and MD Anderson's research capabilities to potentially bring new treatments to patients.
The collaboration will combine CureVac's expertise in mRNA design and manufacturing with MD Anderson's proficiency in cancer antigen discovery and validation. The joint effort will focus on creating off-the-shelf cancer vaccine candidates for hematological and solid tumor cancers. Dr.
Alexander Zehnder, CEO of CureVac, expressed optimism about the partnership's potential to advance mRNA technology and improve therapeutic outcomes.
Both entities will contribute to the identification of cancer antigens using advanced sequencing and bioinformatics. MD Anderson's Sachet Shukla, Ph.D., and the ECLIPSE platform will play key roles in preclinical validation. Following IND approvals, MD Anderson will lead the initial Phase 1/2 studies, while CureVac retains exclusive rights to further development and commercialization.
Jeffrey Molldrem, M.D., highlighted the ECLIPSE team's proprietary technology in identifying immune targets and the drive to develop transformative immunotherapies. CureVac, with over two decades of experience in mRNA technology, has a diverse clinical pipeline and has previously partnered with GSK (LON:GSK) in vaccine development.
The collaboration could lead to significant advancements in the field of cancer treatment, with MD Anderson eligible for payments upon potential future commercialization. This news is based on a press release statement, and further details can be found on CureVac's website.
InvestingPro Insights
CureVac's recent partnership with MD Anderson could be a pivotal moment for the company, which is currently trading near its 52-week low with a market capitalization of approximately $593.4 million. The collaboration aims to utilize CureVac's mRNA platform to develop cancer vaccines, a move that could potentially redefine the company's trajectory.
InvestingPro Tips indicate that analysts have revised their earnings upwards for the upcoming period, which may reflect optimism surrounding the company's strategic initiatives, such as the recent collaboration.
Still, another tip suggests that CureVac is quickly burning through cash, which could be a point of concern for investors considering the company's significant operating income loss of around $267.35 million in the last twelve months as of Q1 2023.
Key InvestingPro Data metrics show that CureVac holds a negative P/E ratio of -1.76 and an adjusted P/E ratio of -2.47, signaling that the company is not currently profitable. Moreover, the company has experienced a substantial revenue decline of approximately 55.77% over the last twelve months as of Q1 2023, yet there was a quarterly revenue growth of 47.01% in Q1 2023. The gross profit margin stands at -193.25%, highlighting the challenges the company faces in maintaining profitability.
While the financials paint a challenging picture, CureVac's liquid assets exceeding short-term obligations and holding more cash than debt may provide some financial stability as it pursues new development opportunities.
Investors interested in deeper analysis can find additional InvestingPro Tips, with a total of 12 available, to help evaluate the potential risks and rewards associated with CureVac's stock. For those considering a Pro or Pro+ subscription, use coupon code PRONEWS24 to get an additional 10% off.
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