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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

Updated 4 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Coronavirus may have been in U.S. in December 2019, study finds — Hospital crisis deepens as holiday season nears.
  2. Politics: Bipartisan group of senators unveil $908 billion COVID stimulus proposalFDA chief was called to West Wing to explain why agency hasn't moved faster on vaccine — The words that actually persuade people on the pandemic
  3. Vaccine: Moderna to file for FDA emergency use authorizationVaccinating rural America won't be easy — Being last in the vaccine queue is young people's next big COVID test.
  4. States: Cuomo orders emergency hospital protocols as New York's COVID capacity dwindles.
  5. World: European regulators to assess first COVID-19 vaccine by Dec. 29
  6. 🎧 Podcast: The state of play of the top vaccines.

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.

Barr appoints special counsel to continue investigating origins of Russia probe

Photo: Mandel Ngan/AFP via Getty Images

Attorney General Bill Barr told the AP on Tuesday he appointed veteran prosecutor John Durham as a special counsel on Oct. 19 to continue investigating the origins of the FBI's 2016 probe into possible coordination between the Trump campaign and Russia.

Why it matters: It's an extra layer of protection for Durham to continue investigating possible misconduct by Obama-era intelligence officials past Joe Biden's inauguration as president.