These Biotech Companies Have Benefited From Covid’s ‘Race To Cure’

Even before the World Health Organization declared SARS-Cov-2 a global pandemic on March 11, biotech shares were treated to some serious gold rush fanfare. As recent as July, if the market was in trouble, all one needed for it reverse course was for some biotech company – Moderna, Gilead or CanSino Biologics – to release a statement of Covid-19 drug progress — and the market ripped higher.

Yet, biotech is not always gold dust for stocks: earlier this month, a Bill and Melinda Gates Foundation backed Covid vaccine maker, CureVac (CVAC), debuted on Nasdaq NDAQ -0.5%. Its share price rose on its opening day, but has been an underperformer since.

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