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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

Chuck Grassley says he tested positive for COVID-19

Sen. Chuck Grassley. Photo: Stefani Reynolds/Stringer

Sen. Chuck Grassley (R-Iowa) has tested positive for the coronavirus, adding Wednesday that he remains "symptom free."

Why it matters: Grassley is the second oldest member of the Senate at 87 years old, meaning he is at high risk for a severe infection, according to the CDC. The Iowa senator is the third in the line of succession to the presidency as president pro tempore of the Senate.

Cuomo says words may have been "misinterpreted" following allegations of harassment

New York Gov. Andrew Cuomo at a Feb. 22 news conference. Photo: Seth Wenig/pool/AF via Getty Images

New York Gov. Andrew Cuomo issued a lengthy statement on Sunday saying he " never inappropriately touched anybody" but acknowledged that "some of the things I have said have been misinterpreted as an unwanted flirtation," after two of his former aides accused him of sexual harassment.

Why it matters: Prior to Cuomo's statement, in which he adds that he "never inappropriately touched anybody" or meant to make anyone uncomfortable, the governor's office and the state attorney general went back and forth in a public disagreement about how to investigate the allegations.