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Why is CureVac N.V. (CVAC) Stock down?
We've noticed a 5.91% decline in CureVac N.V. (CVAC) stock during the 2024-05-06 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
19 Dec, 2023:
Shares of CureVac N.V. (CVAC) dropped by 29.55% from $5.82 to $4.10 in the trading on Tuesday, December 19, 2023. The reason why CVAC down today is due to a significant legal setback.
- Patent Ruling and Ongoing Legal Battles: A German court invalidated a vital patent in CureVac's lawsuit against BioNTech SE (BNTX. This lawsuit aimed to secure compensation for alleged infringements related to COVID-19 vaccine intellectual property.
- Continued Legal Proceedings: While one patent was impacted, seven more cases are ongoing, addressing validity, infringement, and damages. A ruling on the German part of EP 1 857 122 B1 has been postponed.
- Financial Impact and Complexity: The outcome of this legal dispute carries substantial financial implications and underscores the complexities of the legal process.
- U.S. Patent Dispute and Additional Challenge: CureVac is also in a U.S. patent dispute with Pfizer/BioNTech. Furthermore, Acuitas Therapeutics filed a lawsuit against CureVac, alleging a lack of credit for COVID-19 vaccine patents, further complicating matters.
02 Oct, 2023:
Shares of Curevac NV (CVAC) dropped by 6.15% from $6.83 to $6.41 in the trading on Monday October 2, 2023. The reasons why stock CVAC is down today includes:
- Market Conditions: The broader stock market experienced a mixed situation on October 2, 2023. This can be attributed to concerns such as inflation, rising interest rates, and the ongoing conflict in Ukraine.
- CVAC-Specific News: CVAC released specific news on September 29, 2023, indicating that it received a Complete Response Letter (CRL) from the FDA regarding its New Drug Application (NDA) for omecamtiv mecarbil (OMT) to treat symptomatic obstructive hypertrophic cardiomyopathy (oHCM). The CRL requested additional clinical data to substantiate OMT's approval, resulting in a delay in the drug's potential launch.
28 Sep, 2023:
CureVac N.V. (CVAC) fell 8.58% to $6.50 after the company announced the Regional Court Düsseldorf has decided to suspend proceedings on four intellectual property rights in the infringement lawsuit filed by CureVac against BioNTech.
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