Shares of CureVac, a German biotech firm backed by Bill Gates, surged as much as 18% in premarket trading Thursday after the company said it is in talks with the European Commission to supply doses of its potential coronavirus vaccine.
The potential contract with the European Commission intends to provide European Union member states with up to 225 million doses of the coronavirus vaccine, once it has been proven safe and effective against COVID-19, the company said in a press release.
The contract would also give the European Commission the option to purchase an additional 180 million doses, bringing the total to 405 million doses of the potential vaccine.
If an agreement is reached, it would mark the company's first bilateral supply deal, according to Reuters.
CureVac's mRNA-based COVID-19 vaccine candidate is currently in a Phase 1 clinical trial at different sites in Germany and Belgium, aiming to determine safety and efficacy of the drug in humans, the company said. It expects to have results from the trial early in the fourth quarter of 2020, and move to the next phase soon after.
CureVac has gained more than 255% since its recent public trading debut through Wednesday's close.
This article was originally published in Markets Insider (Business Insider).
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