Photo: Joe Raedle/Getty Images

CureVac, a German Phase 1 biotech company developing mRNA-based cancer therapies and vaccines as well as a potential coronavirus vaccine, announced terms for its IPO.

Why it matters: COVID-19 is the biggest story in the world right now and any company that can potentially contribute to the fight is a big deal.

  • It plans to raise $200 million by offering 13.3 million shares at a price range of $14 to $16. The company plans to raise an additional $118 million in a concurrent private placement to insider Dietmar Hopp. At the midpoint of the proposed range, CureVac would command a market value of $2.6 billion.
  • It plans to list on the Nasdaq under the symbol CVAC.
  • BofA Securities, Jefferies, Credit Suisse, Berenberg and Kempen are the joint bookrunners on the deal.

The bottom line: The more vaccines in the pipeline, the better the chances of curbing this.

Go deeper

Sep 23, 2020 - Health

FDA chief vows agency will not accept political pressure on coronavirus vaccine

Food and Drug Administration Commissioner Stephen Hahn promised that "science will guide our decision" for a coronavirus vaccine at a Senate hearing on Wednesday.

Why it matters: More Americans are expressing doubt about a first-generation vaccine, despite President Trump's efforts to push an unrealistic timeline that conflicts with medical experts in his administration.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 p.m. EST: 32,135,220 — Total deaths: 981,660 — Total recoveries: 22,149,441Map.
  2. U.S.: Total confirmed cases as of 10 p.m EST: 6,975,980 — Total deaths: 202,738 — Total recoveries: 2,710,183 — Total tests: 98,481,026Map.
  3. Politics: House Democrats prepare new $2.4 trillion coronavirus relief package.
  4. Health: Cases are surging again in 22 states — New York will conduct its own review of coronavirus vaccine.
  5. Business: America is closing out its strongest quarter of economic growth.
  6. Technology: 2020 tech solutions may be sapping our resolve to beat the pandemic.
  7. Sports: Pac-12 will play this fall despite ongoing pandemic — Here's what college basketball will look like this season.
  8. Science: Global coronavirus vaccine initiative launches without U.S. or China — During COVID-19 shutdown, a common sparrow changed its song.
Bryan Walsh, author of Future
Sep 23, 2020 - Health

America's halfway coronavirus response

Illustration: Sarah Grillo/Axios

Some of the same technological advances that have enabled us to partially weather the economic and health tolls of the pandemic may be paradoxically discouraging us from taking fuller measures.

Why it matters: Thanks to tech like video chat and automation, a large portion of the population has been able to mostly escape the effects of the pandemic — and even thrive in some cases. But far too many of us risk being left further behind as the virus spreads.

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