Valneva Bounces Back From UK Snub With EU COVID-19 Vaccine Deal
Will Supply Up To 60 Million Doses.
The European Commission has approved a purchase deal for Valneva’s COVID-19 vaccine candidate just months after the UK scrapped its own deal with the firm.
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Many of the many biotech companies that raised money to develop and repurpose their molecules to address the pandemic have started to unwind those efforts. What will this mean for the sector’s valuation?
The UK’s decision has hit Valneva’s share price hard, but its vaccine candidates in Chikungunya and Lyme’s disease should help the firm bounce back.
France’s Valneva has announced positive top-line Phase III data for its investigational chikungunya vaccine, and the NASDAQ- and Euronext-listed company looks set to launch the product next year.