On the first day of the IPO, the share price soared by more than 249% and is now trading at $55.9. In this IPO, the offering price of curevac was US $16 per share, with a total of 13.33 million shares sold, with the stock code of “cvac”. Speaking to sina finance and economics, CFO Pierre kemula said he was confident in the rRNA technology adopted by the company, and said that the third phase of the experiment will see results in the first half of 2021. < / P > < p > prior to its listing, curevac was supported by the German government and European pharmaceutical companies. In June, the German government announced that it would inject 300 million euro into the company and acquire a 23% stake. Bank of America, Jefferies and Credit Suisse are the lead underwriters of the IPO. After going public, Pierre kemula hopes that the company will better participate in the competition of more than 150 vaccine research and development around the world. < p > < p > Pierre kemula: the market is very open to biotech companies. I think there are many investors interested in the differentiation technology and potential solutions of the new crown, so investors all over the world are very interested in us. Sina Finance and Economics: curevac started clinical trials in mid June, while other companies such as biontech and Pfizer started clinical trials at the end of April. So what’s unique about curevac and other vaccine companies? What is the current competition situation? < / P > < p > Pierre kemula: of course, it’s a fierce competition. Our bet is to study the sequence of the virus. Make sure that we understand the structure, we can make it, test them before the clinic, make sure we find the best compound, and make sure we can make it effectively. It took us some time. But we are confident, and it’s a low-dose vaccine. We tested 2, 4, 6 and 8 micrograms of vaccine. < / P > < p > we have been optimizing the use of mRNA technology, hoping that low-dose vaccine is effective, safe, effective and long-lived. The benefit of low doses is that you can produce more vaccines in less quantities while ensuring a low cost. < / P > < p > Pierre kemula: I think there are two key advantages, the most important being efficacy and product safety. If you put this aside for the time being, your factory has the ability to, at the same production capacity, the lower the dose required, the more dose you can make. This is the first thing. If you put less in the vaccine, it’s cheaper. < / P > < p > today we see significant differences in prices between different companies and governments around the world. We hope to offer the government a potentially better price, but retain the profitability of the company. It is morally good and competitive in the market. How long will it take for Sina Financial researchers and researchers to prevent a variety of vaccines from coming out? < / P > < p > Pierre kemula: I don’t think anyone actually crossed the finish line in the first place. I’ve heard that vaccines in Russia are very close, but we haven’t seen all the data for these vaccines that are about to be developed, so wait and see. At the same time, the government is working to ensure that they provide vaccines to the population. So they’ve bought in bulk, and something is happening. < / P > < p > Pierre kemula: I think the relatively new thing for us is its scale. We are preparing to produce a large number of vaccines, just as we have done before, and we have spent a lot of time discussing with experts how to expand the capacity. We’ve been producing GMP grade mRNA for 15 years, so we know what we’re doing. A year ago, we approved a large-scale production base. So I think the company is in good shape and can continue to improve its capabilities. Another thing is the large-scale phase III clinical trials around the world, which are relatively new. The good news is that these cros can help us manage logistics. But all in all, I think these are the two big challenges that exist at present. < / P > < p > Pierre kemula: we’ve had a lot of discussions with governments around the world trying to get vaccines from vaccine manufacturers. So I think this is the market today. At the same time, everyone is doing what they can to ensure that the vaccine is properly tested and wants to be approved. < / P > < p > about cooperation, of course, there are many possibilities. The U.S. government has been very active in promoting multiple technologies and companies, covering a variety of quantities and technologies. But it may not be our top priority right now, because there is a lot of competitive pressure there compared to other places. < / P > < p > Pierre kemula: the company is now making a lot of differentiated vaccines. We have enough money to promote not only existing vaccines, but also our existing cancer vaccines. Sometime next year, the cancer vaccine will enter the second phase, and a second trial will begin next year. We’re also working on new immune activation, which is relatively early, but has great potential for mRNA technology. < / P > < p > we work with a company called genmab, which is very famous in the field of antibodies. We are also working with CRISPR therapeutics. I would like to say that we need to continue to invest in technology and experimentation to move forward. Generally speaking, we will concentrate our funds on the research and development of vaccines, such as preventive vaccines, cancer vaccines, etc., which can only be achieved on the basis of industrialized production of pharmaceuticals. < / P > < p > Pierre kemula: clinical trials are usually divided into three steps. The first stage is to use a small number of healthy volunteers to be able to withstand the vaccine if it is safe. In the second stage, the dose was started. In the third stage, representative samples were used for the experiment. So if it’s a vaccine, it’s usually very large trials, because you have to vaccinate a lot of people. < / P > < p > we need to test about 20000 to 30000 people to make sure the vaccine is safe and effective, and that’s how it works. For the new crown, we set the target in the first stage and observed the signs of efficacy in the first stage. However, stage three is necessary because there is a stage three to see if people have been vaccinated against the virus, which is a lot of research. But I’m not sure we said there would be results by the end of 2020, and I think we’re more focused on the first half of 2021. < p > < p > Pierre kemula: the fact is, we are learning now. I don’t think anyone can give a reasonable answer. What we know is that social distance is the only solution. Once we have a vaccine, we know how the virus evolved. For example, do we need to re vaccinate people or the elderly every year or every other year, just like the flu? At the moment, we don’t know. I think experts tend to do this, but it’s too early to say that.