CureVac N.V. (CVAC) Has Gained Over 16% In One Month. Here Is Why

CureVac N.V. (NASDAQ:CVAC) is among the 13 Best German Stocks to Invest in Now. The stock has gained by over 16% in the past month, with a major surge following the June 12 announcement that the company had agreed to be acquired by BioNTech.

The all-stock transaction is set to bring together two complementary German companies and build on BioNTech’s impressive track record and strong position in the global mRNA industry. Under the agreement, each CureVac N.V. (NASDAQ:CVAC) share will be exchanged for $5.46 in BioNTech ADSs, resulting in an aggregate equity value of approximately $1.25 billion.

The deal represents a 55% premium for CureVac N.V. (NASDAQ:CVAC) shareholders over the three-month average share price. Upon closing, they are also expected to have a stake of between 4% and 6% in BioNTech.

Dr. Alexander Zehnder, CEO of CureVac N.V. (NASDAQ:CVAC) stated the following on the development:

“To me, this transaction is more than a business decision, it represents a shared commitment to leverage the full potential of mRNA as a disruptive technology to develop transformative therapies with greater scale and speed. For more than two decades, both companies have operated with related ambitions, often tackling challenges from different angles. This transaction aims at combining complementary scientific capabilities, proprietary technologies, and manufacturing expertise in the mRNA field under one roof.”

The transaction, which is expected to close this year, was unanimously approved by the management and supervisory boards of both companies. The German government, which held a 13% stake in CureVac N.V. (NASDAQ:CVAC) has also welcomed the deal.

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Disclosure: None.