CureVac NV said its messenger RNA-based Covid-19 vaccine provided full protection against hospitalization and death for people under 60, though its overall efficacy trailed that of similar shots already in use around the world.

The German company said in a statement late Wednesday that its vaccine was 48% effective at preventing disease of any severity, slightly higher than seen in a preliminary readout of the trial results but well behind the efficacy rates of more than 90% shown by Pfizer Inc. and Moderna Inc.’s mRNA shots.

U.S.-traded shares of CureVac tumbled more than 10% in after-hours trading in New York.

The vaccine was 77% effective against moderate and severe disease across variants for trial participants age 18 to 60, the company said. It didn’t detail how well the shot performed in participants who were more than 60 years old.

The future of CureVac’s vaccine had fallen into doubt earlier this month after the company released initial results from the trial. Its shares lost more than half their value after those results were released.