DVAX - Valneva plunges amid concerns over future of COVID-19 shot in Europe

The ADRs of Valneva SE (NASDAQ:VALN) dropped for the third straight session on Monday after the French vaccine maker said that its deal with European Commission for an experimental COVID-19 shot hangs in the balance. The whole virus, inactivated vaccine candidate, named VLA2001, is designed to use the CpG 1018 adjuvant, supplied by U.S. biotech Dynavax Technologies (DVAX). Previously, EC signed an Advance Purchase Agreement for the vaccine candidate, which it subsequently opted to terminate. However, Valneva (VALN) proposed a remediation plan to rescue the deal subject to discussions within the global body and member states. The indication on early, unofficial volumes received from the EC would be inadequate to advance its vaccine program sustainably, Valneva (VALN) said in a statement. “If such indications are confirmed, Valneva will not be able to enter into an amendment to the APA that could allow for a reduced order, and the EC is

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Valneva plunges amid concerns over future of COVID-19 shot in Europe