AZN - Valneva gains on European nod to procure up to 60M doses of its COVID-19 shot

Valneva (NASDAQ:VALN) ADRs are trading ~23.4% higher in the pre-market after the company announced that the European Commission (“EC”) has greenlighted an agreement to purchase 60M doses of the company’s experimental COVID-19 vaccine VLA2001. Per the terms of the deal, the EC has the option to raise its initial purchase of 27M doses in 2022 for up to a total of 60M doses by the end of 2023. The agreement is contingent upon the final review of each of the EU member states, and the deliveries are expected to begin in April 2022 subject to the approval of the European Medicines Agency (EMA). The regulator’s human medicines committee (CHMP) is expected to start a rolling review of the inactivated vaccine candidate shortly, Valneva (VALN) added.   VLA2001 uses CpG 1018 adjuvant developed by Dynavax Technologies (NASDAQ:DVAX), shares of which, are trading ~6.5% higher in early trading currently. In October, the company announced topline data from

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Valneva gains on European nod to procure up to 60M doses of its COVID-19 shot