Valneva Says Working On Remediation Plan For Investigational COVID-19 Vaccine

  • Valneva SE VALN proposed a remediation plan after receiving the European Commission's notice of intent to terminate the advance purchase agreement for its inactivated COVID-19 vaccine candidate.
  • "Some member states have confirmed their interest in having an inactivated, adjuvanted whole-virus vaccine solution in their portfolio," the company said.
  • "However, the preliminary, unofficial volume indications received from the European Commission would not be sufficient to ensure the sustainability of Valneva's COVID-19 vaccine program," the company added.
  • Related: EU Says Final Decision Yet To Be Taken On Terminating Valneva COVID-19 Vaccine Deal.
  • "We hope that the EC and its member states will continue to evaluate the potential advantages of an inactivated vaccine," said Thomas Lingelbach, Valneva's CEO.
  • In parallel, the regulatory process with the European Medicines Agency (EMA) continues as planned, Valneva said.
  • EMA's Committee for Medicinal Products for Human Use is set to take a final vote during the week of June 21 on whether to endorse the vaccine.
  • Also Read: Valneva Receives More Questions From European Regulator For Its COVID-19 Vaccine, Shares Fall.
  • Price Action: VALN shares are down 18.60% at $16.28 during the premarket session on the last check Monday.

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