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<ul><li><a href="https://markets.businessinsider.com/stocks/arct-stock">Arcturus Therapeutics</a> fell as much as 53% to $40 on Tuesday, extending its losses for a second straight day after Wall Street was disappointed with the medical company's COVID-19 vaccine updates. </li><li>Analysts from Barclays, Raymond James, and Baird all downgraded their ratings for <keyword id="250021" type="CITY" weightage="60" keywordseo="Arcturus">Arcturus</keyword> on Tuesday. </li><li>Arcturus released clinical and preclinical data for its COVID-19 vaccine candidate, ARCT-021, on Monday while also announcing that the Singapore Health Sciences Authority approved the vaccine for Phase 2 clinical studies. </li><li>Barclays analyst Gena Wang wrote that the interim data of the vaccine candidate was "disappointing," <a href="https://seekingalpha.com/news/3647704-arcturus-gets-multiple-downgrades-after-updating-covidminus-19-vaccine-trial-data">per</a> Seeking Alpha. </li><li><a href="https://markets.businessinsider.com/stocks/arct-stock">Watch Arcturus Therapeutics trade live here.</a></li></ul><a href="https://markets.businessinsider.com/stocks/arct-stock">Arcturus Therapeutics</a> fell as much as 53% to $40 on Tuesday, extending its losses for a second straight day after Wall Street was disappointed with the medical company's COVID-19 vaccine updates. Arcturus <a href="https://ir.arcturusrx.com/news-releases/news-release-details/arcturus-therapeutics-received-approval-singapore-health">released clinical and preclinical data</a> for its COVID-19 vaccine candidate, ARCT-021 on Monday while also announcing that the Singapore Health Sciences Authority approved the vaccine for Phase 2 clinical studies. Barclays called the interim data of the vaccine candidate "disappointing," according to a report <a href="https://seekingalpha.com/news/3647704-arcturus-gets-multiple-downgrades-after-updating-covidminus-19-vaccine-trial-data">cited by Seeking Alpha</a>. Analyst Gena Wang wrote that higher dose animal studies showed some efficacy, but "safety concerns limited further dose escalation."The firm downgraded its rating for Arcturus from "overweight" to "equal weight." Barclays holds a price target of $46 for the stock. Raymond James also downgraded its rating from "outperform"to "market perform," while Baird analysts downgraded the stock from "outperform" to "neutral" and lowered its price target from $79 to $69. Read more:<a href="https://www.businessinsider.com/investing-strategy-fund-manager-trend-following-nasdaq-futures-jason-teed-2020-12">Jason Teed has beaten 99% of his investor peers this year. He breaks down how his Morningstar gold-rated fund did it with a trend-following strategy, and shares his advice for navigating the stock market in 2021.</a>Shares of Arcturus currently trade around $42.Meanwhile, Piper Sandler senior biotech analyst Yasmeen Rahimi said she was disappointed in the vaccine candidate's neutralizing titers, but "compelled by the robust pre-clinical data supporting T-cell-driven efficacy, and continue[s] to believe in ARCT's mRNA technology." Rahimi rates Arcturus "overweight" and has a price target of $140 for the stock.Last week, Arcturus boasted a 989% year-to-date gain. Monday and Tuesday's sell-off has erased those gains, but the stock has still returned over 290% this year. According to <a href="https://ir.arcturusrx.com/news-releases/news-release-details/arcturus-therapeutics-received-approval-singapore-health">Arcturus</a>, no safety concerns were identified with the vaccine candidate and all adverse events except 2 were mild or moderate at doses selected for Phase 2.

Arcturus Therapeutics plummets 53% after analyst downgrades following COVID-19 vaccine trial updates

<ul><li>US <keyword id="6354298" type="DEFINITION" weightage="60" keywordseo="Stocks">stocks</keyword> on Tuesday pulled back from record highs as hopes for $2,000 direct <keyword id="45304" type="COMPANY" weightage="60" keywordseo="Stimulus">stimulus</keyword> payments faded. </li><li>Senate Majority Leader Mitch McConnell on Tuesday <a href="https://www.businessinsider.com/mcconnell-senate-2000-stimulus-checks-2020-12">blocked Democrats' attempt</a> to hold a vote on the $2,000 checks, but he said the Senate would "begin a process" of considering a proposal to send them.</li><li><a href="https://markets.businessinsider.com/news/stocks/intel-stock-price-third-point-urges-chipmaker-explore-strategic-alternatives-2020-12-1029924016">Intel soared 8%</a> after Daniel Loeb's activist hedge fund urged the chipmaker in a letter to explore strategic alternatives, Reuters reported.</li><li>Goldman Sachs said Snap Inc. <a href="https://markets.businessinsider.com/news/stocks/snapchat-stock-price-product-driven-revenue-growth-goldman-says-2020-12-1029923585">could surge 45%</a> as its product developments drive faster-than-expected revenue growth. </li><li><a href="https://markets.businessinsider.com/indices">Watch major indexes update live here</a>.</li></ul>US stocks on Tuesday pulled back from record highs as hopes for $2,000 direct stimulus payments faded.Senate Majority Leader Mitch McConnell <a href="https://www.businessinsider.com/mcconnell-senate-2000-stimulus-checks-2020-12">blocked an attempt by Democrats</a> to hold a vote on the $2,000 checks but said the Senate would "begin a process" of considering a proposal to send them to Americans - a measure that Democrats and President Donald Trump have pushed for.Senate Minority Leader Chuck Schumer had called for a vote in the Senate on Tuesday after the House passed supplemental legislation known as the CASH Act on Monday night.Here's where US indexes stood after the 4 p.m. ET close on Tuesday:<ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500_500" target="_blank" rel="noopener">S&amp;P 500</a>: 3,727.04, down 0.22%</li><li><a href="https://markets.businessinsider.com/index/dow_jones" target="_blank" rel="noopener">Dow Jones industrial average</a>: 30,335.67, down 0.22% (68.30 points)</li><li><a href="https://markets.businessinsider.com/index/nasdaq_composite" target="_blank" rel="noopener">Nasdaq composite</a>: 12,850.22, down 0.38%</li></ul>Read more: <a href="https://www.businessinsider.com/how-small-investors-making-passive-income-in-rental-real-estate-2020-12">Small investors with no background in finance or real estate are making up to $29,000 a month in run-down properties. Here are 4 tips for those looking to do the same.</a><a href="https://markets.businessinsider.com/news/stocks/intel-stock-price-third-point-urges-chipmaker-explore-strategic-alternatives-2020-12-1029924016">Intel soared 8%</a> after Daniel Loeb's activist hedge fund, Third Point, sent a letter to the chipmaker urging it to explore strategic alternatives, <a href="https://www.reuters.com/article/us-intel-thirdpoint-exclusive/exclusive-hedge-fund-third-point-urges-intel-to-explore-deal-options-idUKKBN2931PS">according to Reuters</a>."Without immediate change at Intel, we fear that America's access to leading-edge semiconductor supply will erode, forcing the US to rely more heavily on a geopolitically unstable East Asia to power everything from PCs to data centers to critical infrastructure," the letter said.Goldman Sachs said Snap Inc., Snapchat's parent company, <a href="https://markets.businessinsider.com/news/stocks/snapchat-stock-price-product-driven-revenue-growth-goldman-says-2020-12-1029923585">could surge 45%</a> as its product developments drive faster-than-expected revenue growth. The firm reiterated its "buy" rating on the stock and set a $70 price target for the company, which helped to propel an 11% jump for Snap on Tuesday.<a href="https://markets.businessinsider.com/news/stocks/arcturus-therapeutics-stock-price-analyst-downgrades-covid19-vaccine-trail-updates-singapore-2020-12-1029923922">Arcturus Therapeutics fell as much as 53%</a>, to $40, extending its losses for the second straight day after Wall Street was disappointed with the medical company's COVID-19 vaccine updates. Analysts from Barclays, Raymond James, and Baird all downgraded their ratings for Arcturus on Tuesday.Oil prices were up. <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti">West Texas Intermediate crude</a> increased 0.76%, to $47.89 per barrel. <a href="https://markets.businessinsider.com/commodities/oil-price?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestts&amp;utm_medium=ingest">Brent crude</a>, oil's international benchmark, increased 0.35% to $51.04 per barrel.<a href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> increased 0.65%, to $1,883.50 per ounce.Read more: <a href="https://www.businessinsider.com/investing-strategy-fund-manager-trend-following-nasdaq-futures-jason-teed-2020-12">Jason Teed has beaten 99% of his investor peers this year. He breaks down how his Morningstar gold-rated fund did it with a trend-following strategy, and shares his advice for navigating the stock market in 2021.</a>

US stocks slide from new highs as hope for expanded stimulus fades

REUTERS/Andreas GebertEmployee Philipp Hoffmann, of German biopharmaceutical company CureVac, demonstrates research workflow on a vaccine for the coronavirus (COVID-19) disease at a laboratory in Tuebingen, Germany, March 12, 2020. Picture taken on March 12, 2020. REUTERS/Andreas Gebert<ul class="summary-list"><li>To respond to the <a href="https://www.businessinsider.com/china-virus-everything-we-know-deadly-2019-ncov-wuhan-spread-2020-1">coronavirus pandemic</a>, drug companies have begun researching <a href="https://www.businessinsider.com/wuhan-coronavirus-treatments-vaccine-jj-regeneron-gilead-2020-2">potential treatments and vaccines</a>.</li><li>One of those vaccine developers, a privately held Germany biotech company called CureVac, hopes to begin testing a potential vaccine in people in June.</li><li>A German newspaper <a href="https://www.welt.de/wirtschaft/plus206563595/Trump-will-deutsche-Impfstoff-Firma-CureVac-Traumatische-Erfahrung.html">reported Sunday</a> that Trump administration officials offered large sums of cash to CureVac to secure for the rights the vaccine, "but only for the USA." The company <a href="https://twitter.com/CureVacAG/status/1239535638359281664">denied Monday</a> that it has received any offers from the US government.</li><li>CureVac is using a genetic technology that enables much quicker development of vaccines. Called messenger RNA (mRNA), a vaccine includes only the genetic instructions to produce a protein to fight the virus.</li><li>Despite its speed, the mRNA platform remains unproven. There are no approved vaccines based on the technology. Other biotechs developing mRNA coronavirus vaccines include Moderna, BioNTech, and Arcturus Therapeutics.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>The sprint to develop a <a href="https://www.businessinsider.com/coronavirus-vaccine-timeline-what-to-watch-leading-research-2020-3">coronavirus vaccine</a> is on in full force.While <a href="https://www.businessinsider.com/wuhan-coronavirus-treatments-vaccine-jj-regeneron-gilead-2020-2">dozens of research programs</a> are underway, many of the vaccine developers that have put out the fastest timelines for bringing a vaccine into the clinic for human testing share a similarity: the technology they're relying on.These drug companies are looking to develop a vaccine using messenger RNA (mRNA) platform technology - a novel method that has yet to produce an approved vaccine, but holds tremendous promise.The first potential coronavirus vaccine was <a href="https://www.businessinsider.com/coronavirus-vaccine-first-dose-administered-in-clinical-trial-2020-3">injected into clinical trial participants</a> on Monday. That experimental vaccine was made by Moderna, a Massachusetts-based biotech upstart that uses an mRNA platform. BioNTech, a $9 billion German drugmaker, also <a href="https://investors.biontech.de/news-releases/news-release-details/biontech-reports-rapid-progress-covid-19-vaccine-program-address">said Monday</a> it plans to start clinical testing of its mRNA vaccine in late April. <h2>Reports of an offer, and a denial</h2>The privately held German biotech company CureVac is also researching an mRNA vaccine. The company gained widespread attention over the weekend after <a href="https://www.welt.de/wirtschaft/plus206563595/Trump-will-deutsche-Impfstoff-Firma-CureVac-Traumatische-Erfahrung.html">the German newspaper Welt am Sonntag reported</a> that a Trump administration officials offered large sums of money for rights to its vaccine, "but only for the USA." CureVac <a href="https://twitter.com/CureVacAG/status/1239535638359281664">denied on Monday</a> that it has received any such offers from the US government. Just a few days before those reports, CureVac switched CEOs on March 11, re-installing its longtime leader and founder Ingmar Hoerr. Previous CEO Daniel Menichella <a href="https://www.curevac.com/news/company-founder-ingmar-hoerr-succeeds-daniel-menichella-as-ceo-of-curevac-ag">left the company</a>, effective immediately. On Monday, Hoerr <a href="https://www.curevac.com/news/curevac-announces-leadership-update">took a leave of absence for medical reasons</a>, and Deputy CEO Franz-Werner Haas was put in control of the company.Hoerr cofounded CureVac in 2000 and served as CEO until 2018, when Menichella took over. While Hoerr is based in Germany, Menichella worked out of Boston. The company has about 500 employees and offices in Boston, Frankfurt, and Tübingen, Germany.<h2>'We have to get focused'</h2>Menichella also a March 2 roundtable of pharmaceutical-industry leaders at the White House, where he discussed CureVac's vaccine research with President Donald Trump and Vice President Mike Pence, among others. On March 12, the day after news was released of the CEO switch, Hoerr spoke with Business Insider about CureVac's research and the recent change in leadership. The conversation took place before press reports about a reported offer from US officials for its vaccine work.In that interview, Hoerr told Business Insider the CEO change had more to do with the company's focus on research, rather than on business development. In particular, Hoerr cited his own research expertise (the company was founded in part around his Ph.D. work) as a key driver in working on a coronavirus vaccine. "I think every phase has a CEO fitting for the company," Hoerr said. "[Menichella] had a good fit the last two years, and now I might have a good fit now to get these things done and get to the market." Hoerr said Menichella was focused more on business negotiations, "but now we really have to get focused on the corona thing and get things done." <h2>CureVac's vaccine could be tested in people in June or July</h2>Menichella previously provided an ambitious timeline for CureVac's work. During the White House meeting, he said the company planned to start a clinical trial by the beginning of June. Hoerr said he expects to start a clinical study in either June or July for the coronavirus vaccine.He also stressed that CureVac has the ability to mass produce a vaccine if needed in a time of emergency. He outlined how an early safety study, called a Phase 1 trial, could expand to a large population in the case of an emergency: "If there's an emergency in Germany, and you start with maybe 10 volunteers for the Phase 1 ,then they extend to 100 then they might extend to thousands, especially in at-risk areas," he said"They can still run this clinical trial and extend as long as they want. They can do 10,000, they can get to 100,000, they can get to 1 million if they want to. It's all there. We all have the material ready to do so. It's quite encouraging to see that we can really do something against corona because we have this material ready," he said.Hoerr added the company currently has the manufacturing capability to deliver 10 million doses of a 1-microgram vaccine.<ul class="read-more-links"><li>Read more:</li><li><a href="https://www.businessinsider.com/trump-administration-tried-to-pay-germans-scientists-for-coronavirus-cure-2020-3">Trump reportedly tried to poach German scientists working on a coronavirus vaccine and offered cash so it would be exclusive to the US</a></li><li><a href="https://www.businessinsider.com/coronavirus-vaccine-timeline-what-to-watch-leading-research-2020-3">There are at least 35 potential coronavirus vaccines in the works, aiming to halt the pandemic. Here are the top efforts to watch and what to expect in 2020 and beyond.</a></li><li><a href="https://www.businessinsider.com/wuhan-coronavirus-treatments-vaccine-jj-regeneron-gilead-2020-2">The US is sprinting to develop a coronavirus vaccine or treatment. Here's how 10 top drugmakers are racing to tackle the pandemic.</a></li></ul><a href="/intelligence/digital-health?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=health&amp;itm_campaign=digital-health"></a>Featured Digital Health Articles: - <a href="/telehealth-industry-explained">Telehealth Industry: Benefits, Services &amp; Examples</a> - <a href="/value-based-care-pay-for-performance-healthcare-model">Value-Based Care Model: Pay-for-Performance Healthcare</a> - <a href="/senior-care-market-trends">Senior Care &amp; Assisted Living Market Trends</a> - <a href="/wearable-technology-healthcare-medical-devices">Smart Medical Devices: Wearable Tech in Healthcare</a> - <a href="/artificial-intelligence-healthcare">AI in Healthcare</a> - <a href="/remote-patient-monitoring-industry-explained">Remote Patient Monitoring Industry: Devices &amp; Market Trends</a>

Everything you need to know about CureVac, the German drugmaker working on a coronavirus vaccine that's at the heart of a US-German controversy

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Arcturus Therapeutics plummets 53% after analyst downgrades following COVID-19 vaccine trial updates

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US stocks slide from new highs as hope for expanded stimulus fades

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Everything you need to know about CureVac, the German drugmaker working on a coronavirus vaccine that's at the heart of a US-German controversy

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