BaFin is examining the fall in the price of Curevac shares
On Friday, the share price of vaccine manufacturer CureVac slipped significantly. BaFin is now checking whether everything went well.
Dhe financial supervisory authority BaFin is examining the fall in the price of the CureVac share for possible suspicion of market abuse or market manipulation. The share price of CureVac had fallen by more than 40 percent on Thursday after disappointing study results for the Covid vaccine from the Tübingen-based biotech company. On Monday the price rose by 3.5 percent.
The “Rheinische Post” had previously reported, citing industry circles, that the Bafin was investigating the suspicion that someone from the companies CureVac or Bayer could have used their insider knowledge and sold shares in good time. Bayer is a cooperation partner of CureVac. A Curevac spokeswoman said the company was not aware of any audit by the Bafin. “We were not contacted by BaFin regarding any incidents.”
Curevac announced last week that its Covid-19 vaccine had only shown 47 percent effectiveness in the crucial clinical trial, according to preliminary data. After the data was announced, the share posted a record daily loss of around 44 percent, the total price drop in the past week was more than 30 percent.