Biotech firm Curevac has been deep in the red in 2021 over high costs related to its flopped Covid vaccine.
Curevac posted an operating loss of a good 412 million euros after a minus of almost 110 million euros in the previous year, as the Tübingen company announced on Thursday.
Curevac attributed this, among other things, to significantly higher costs for the approval study with its Covid 19 vaccine, with which the company was unsuccessful due to a lack of effectiveness.
The company is now concentrating on its improved second-generation vaccine, which Curevac is not developing alone this time, but in partnership with the British pharmaceutical company GlaxoSmithKline.
The two partners recently started a clinical study with this.
Payments from GSK made a significant contribution to Curevac's sales increasing to 103 million euros last year from almost 49 million in the previous year.
This was also affected by payments from the pharmaceutical company Boehringer Ingelheim, which ended a cooperation with Curevac in the field of lung cancer last summer.
“For 2022, our priorities are to execute our second generation development program.
Programs for Covid-19 and for influenza have entered clinical development and the latter is on track to generate payments for development milestones and regulatory compliance,” said CFO Pierre Kemula.