Stock Alert: CureVac Jumps 13% On Partnership With Bayer To Develop Covid Vaccine

(RTTNews) - Shares of CureVac N.V. (CVAC) jumped 15% on Thursday morning after the German biotech company announced partnership with Bayer AG to develop coronavirus vaccine.

CVAC is currently trading at $100.65, up $13.80 or 15.89%, on the Nasdaq.

Bayer has signed a collaboration and services agreement with CureVac under which Bayer will support the further development, supply and key territory operations of CureVac's COVID-19 vaccine candidate CVnCoV.

Bayer will contribute its expertise and established infrastructure in areas such as clinical operations, regulatory affairs, pharmacovigilance, medical information, supply chain performance as well as support in selected countries.