CureVac Continues to Make Pipeline Progress on mRNA Candidates; $15.40 FVE, Shares Undervalued

CureVac is continuing to make progress on its mRNA pipeline candidates. The company reported positive extended preliminary data from its ongoing Phase 1 clinical programs in COVID-19 and seasonal flu, which are in collaboration with wide-moat GSK. In COVID-19, the monovalent modified mRNA construct, CV0501, successfully boosted antibody titers against BA.1 and ancestral variants in adults aged 65 and above. In flu, the monovalent modified mRNA construct, Flu-SV-mRNA, elicited antibodies approximately 2.3 times those of the licensed vaccine comparator in adults aged 60-80 years. This data is encouraging, and CureVac and GSK are continuing to advance these mRNA candidates to the next stages of clinical development. We maintain our $15.40 per share fair value estimate, no-moat rating, stable moat trend, and Extreme Uncertainty Rating for this clinical-stage biopharmaceutical company. CureVac's stock is trading at an attractive entry point (in 4-star territory) for long-term investors.