Benzinga | Oct 15, 2021 03:37PM EDT

Why CureVac Shares Are Falling

CureVac BV (NASDAQ:CVAC) shares are trading lower after the company and Bayer reportedly terminated their vaccine manufacturing partnership.

More news came around 1:20 pm EDT after an SEC filing showed that dievini Hopp BioTech holding, which holds roughly 42% of outstanding CureVac shares, plans to sell some of its shares.

CureVac NV is a clinical-stage biopharmaceutical company, developing a new class of transformative medicines based on messenger ribonucleic acid. The company's product portfolio includes clinical and pre-clinical candidates across multiple disease indications in oncology, prophylactic vaccines and protein therapy.

CureVac has a 52-week high of $151.80 and a 52-week low of $37.54.