VALN - Valneva signs purchase agreement with EC for supply of inactivated COVID-19 shot

Valneva (VALN +4.4%) has signed an Advance Purchase Agreement (APA) with the European Commission for the supply of its inactivated COVID-19 vaccine candidate. The agreement relates to the supply of up to 60M doses of Valneva's VLA2001 vaccine over two years. The EC has the option to increase this initial firm purchase order. Following final review of the volumes by each of the EU member states, Valneva expects to deliver 24.3M doses during the second and third quarters of 2022, subject to approval of VLA2001 by the European Medicines Agency (EMA). The remainder doses would be delivered in 2023. In October, the company announced topline data from the pivotal trial of VLA2001 demonstrating that – compared to AstraZeneca's (NASDAQ:AZN) COVID-19 shot – the vaccine candidate generated superior neutralizing antibody levels.

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Valneva signs purchase agreement with EC for supply of inactivated COVID-19 shot