新冠疫苗新时代看起来不错，其他疫苗感觉更好

Roger Song, MD, CFA * | Equity Analyst(617) 342-7955 | rsong@jefferies.comLiang Cheng, Ph.D. * | Equity Associate+1 (617) 342-7896 | lcheng1@jefferies.comFiona Jia, Ph.D. * | Equity Associate+1 (617) 342-7942 | fjia@jefferies.comCha Cha Yang, MS, MBA * | Equity Associate+1 (857) 330-5772 | cyang2@jefferies.com Chart 1 - Key Quotes from Dr. Vinay Prasad during 5/20 FDA Town Hall on New CV19 Vaccine Framework.Source: FDA, Jefferies researchChart 2 - Key upcoming catalysts from our six SMID vaccine coverage.Source: Company reports and Jefferies researchPlease see important disclosure information on pages 4 - 9 of this report.This report is intended for Jefferies clients only. Unauthorized distribution is prohibited. Chart 3 - Our six SMID names (+ MRNA) stock performance since new HHS/ FDA/ CBER leaders.Source: Jefferies Research, FactsetPlease see important disclosure information on pages 4 - 9 of this report.This report is intended for Jefferies clients only. Unauthorized distribution is prohibited. Company Valuation/RisksFor Important Disclosure information on companies recommended in this report, please visit our website at https://javatar.bluematrix.com/sellside/Disclosures.action or call 212.284.2300.Analyst Certification:I, Roger Song, MD, CFA, certify that all of the views expressed in this research report accurately reflect my personal views about the subject security(ies) andsubject company(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or viewsexpressed in this research report.I, Liang Cheng, Ph.D., certify that all of the views expressed in this research report accurately reflect my personal views about the subject security(ies) andsubject company(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or viewsexpressed in this research report.I, Fiona Jia, Ph.D., certify that all of the views expressed in this research report accurately reflect my personal views about the subject security(ies) and subjectcompany(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressedin this research report.I, Cha Cha Yang, MS, MBA, certify that all of the views expressed in this research report accurately reflect my personal views about the subject security(ies)and subject company(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations orviews expressed in this research report.As is the case with all Jefferies employees, the analyst(s) responsible for the coverage of the financial instruments discussed in this report receivescompensation based in part on the overall performance of the firm, including investment banking income. We seek to update our research as appropriate, butvarious regulations may prevent us from doing so. Aside from certain industry reports published on a periodic basis, the large majority of reports are publishedat irregular intervals as appropriate in the analyst's judgement.Investment Recommendation Record(Article 3(1)e and Article 7 of MAR)Recommendation PublishedRecommendation DistributedCompany Specific DisclosuresJefferies Financial Group Inc., its affiliates or subsidiaries expect to receive or intend to seek compensation for investment banking services from CureVacN.V. within the next three months.Within the past 12 months, Jefferies Financial Group Inc., its affiliates or subsidiaries has received compensation from investment banking services fromCureVac N.V..Within the past twelve months, Jefferies Financial Group Inc. and/or its affiliates received compensation for products and services other than investmentbanking services from non-investment banking, securities related compensation for client services it provided to CureVac N.V..Jefferies Financial Group Inc., its affiliates or subsidiaries is acting as a manager or co-manager in the underwriting or placement of securities for CureVacN.V. or one of its affiliates.Within the past twelve months, CureVac N.V. has been a client of Jefferies Financial Group Inc., its affiliates or subsidiaries and investment banking servicesare being or have been provided.Jefferies Financial Group Inc., its affiliates or subsidiaries has acted as a manager or co-manager in the underwriting or placement of securities for CureVacN.V. or one of its affiliates within the past twelve months.Jefferies Financial Group Inc., its affiliates or subsidiaries expect to receive or intend to seek compensation for investment banking services from Novavax,Inc. within the next three months.Within the past 12 months, Jefferies Financial Group Inc., its affiliates or subsidiaries has received compensation from investment banking services fromNovavax, Inc..Jefferies Financial Group Inc., its affiliates or subsidiaries i