10 Best German Stocks To Buy Now

2. CureVac N.V. (NASDAQ:CVAC)

Upside potential as of November 15: 293.70%

CureVac N.V. (NASDAQ:CVAC) is a German biopharmaceutical company that uses messenger ribonucleic acid, or mRNA, to produce vaccines and treatments. The company was established in 2000, and in August 2020, it became public.

CureVac N.V. (NASDAQ:CVAC) and GSK worked together to create avian influenza vaccines, COVID-19 vaccines, and second-generation seasonal influenza vaccines. The company’s additional pipeline candidates include oncology mRNA vaccines and molecular treatments for malignancies, liver, and ocular illnesses.

Revenue climbed dramatically to €493.9 million ($523 million) by 2,897% YoY for the third quarter of 2024, mainly due to the GSK partnership, according to key financial data. The company’s cash runway was extended beyond 2028 with a €400 million ($423.5 million) upfront payment from a revised partnership with GSK, which was the main driver of the significant cash rise to €551 million ($583.4 million).

Furthermore, CureVac N.V. (NASDAQ:CVAC) operating profit also increased significantly, showing the impact of the strategy redesign, which included a 30% labor reduction to improve operational efficiency.

In addition to cancer, CureVac N.V. (NASDAQ:CVAC) got positive Phase 2 data for its seasonal influenza program licensed to GSK, which is currently moving forward to Phase 3, and expanded its preclinical vaccine product for urinary tract infections. It is anticipated that Axel Malkomes’s appointment as the company’s new CFO will improve its strategic execution and financial leadership.