The race to develop a coronavirus vaccine heated up on global stock markets on Thursday as shares in China’s CanSino Biologics surged on their first day of trading in Shanghai while Germany’s CureVac prepared to sell shares in New York.
CureVac, which said earlier this week that it planned to raise up to $245m on Nasdaq to accelerate the development of its Covid-19 vaccine, is expected to price its initial public offering after the bell on Thursday.
Earlier, shares in CanSino surged as much as 127 per cent on the company’s first day of trading on Shanghai’s Nasdaq-like Star Market, after it raised Rmb5.2bn ($748.9m) in a secondary offering.
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