The fact that CVac is safe is well accepted and factored into...

The fact that CVac is safe is well accepted and factored into the share price (which would be at scrap value if not).

I disagree that positive PFS data is factored into the share price. If the interim results are positive this de-risks the company in a big way. You will have to wait until interim phase 3 results for a bigger re-rating event.

Commitment to present interim results at the IGCS was made in April at the latest before they would have had a good look at the data which they now have no doubt.

This stock has been a fun ride for the past 4/5 years on nothing but good promotion and promise - new trial data is a big deal. Funny that it will come at a time when the CEO generated hype is probably at an all time low. Interesting to see how it plays out in October but I personally think a buy at these prices is a smart play for the near term.