French vaccines company Valneva stock price soars over 20% after getting EU approval and signing a 2-year deal to supply its vaccine, according to a report by Reuters on Wednesday.
This eighth deal by the EU’s executive body in the fight against rising COVID-19 cases is a welcome move for Valneva as it pushes on what has been a challenging road for its COVID-19 vaccine.
Stella Kyriakides, EU health commissioner stated that the Valneva vaccine provides another option to the wider portfolio subject to being proven safe and effective by the European Medicines Agency (EMA).
Delivery of the VLA2001 vaccine is projected to commence in April 2022 upon EMA approval.
The company is optimistic its vaccine candidate, which uses more conventional technology than the mRNA vaccines, might be a more reassuring alternative for Europeans yet to be immunized.
Valneva stated that the vaccine showed efficacy “at least as good, possibly if not better than AstraZeneca’s in a late-stage trial, with lower negative side effects.