Sunday, November 28

Curevac quadruples loss

The biotech company Curevac significantly increased its losses in the third quarter with a sharp rise in sales. The company announced that sales rose by 463 percent to 29.3 million euros compared to the same period last year. The increase in sales in the first nine months is still 44 percent. The increase was mainly due to higher sales from the cooperation with the British pharmaceutical company Glaxo Smith Kline, it said. However, the drop in earnings also grew significantly in the third quarter. The operating loss increased from 36.7 million euros to 143.1 million euros. The main reason was higher research and development costs for CVnCoV.

Reference-www.sueddeutsche.de

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