Valneva SE (VALN), a specialty vaccine company, has declined by 20.77% during the premarket trading session and consequently is trading at $37.65 at the time of the writing. The decline could be attributed to the profit-taking factor after the stock rocketed by 45.01% during Wednesday’s regular trading session and closed the day at $47.52. The surge in stock price could be associated with positive development for the company’s COVID-19 vaccine candidate.
Why VALN Soared?
On Wednesday, VALN announced the results from an initial laboratory study. The study demonstrated that the serum antibodies induced by three doses of inactivated COVID-19 vaccine candidate of the company, namely VLA2001, neutralized the Omicron variant. The sera of 30 participants were used in the pseudovirus assay in the Phase 1/2 trial VLA2001-201. The study was done to analyze the neutralization of the ancestral SARS-CoV-2 virus as well as on Delta and Omicron variants.
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Confirmation of Timelines
On the 6th of January, VALN confirmed the previously communicated timelines of its clinical trials and regulatory submissions for VLA2001, its COVID-19 vaccine candidate. The company announced in December to commence rolling submissions for initial approval of VLA2001 with the European Medicines Agency. It also announced the positive homologous booster results at the end of December 2021. The results showed an excellent immune response after administration of the third dose of VLA2001.
Discussions with Scottish Empire
In late December, VALN announced that it was in advanced discussions with Scottish Enterprise. The discussions were related to the multi-million-pound grant which was meant to enable the company to fully complete its strategic manufacturing site in Livingston, Scotland. Valneva paused its site plans following the termination of the supply agreement with the UK Government for VLA2001. Since then, the company engaged with Scottish Enterprise in a constructive dialogue.
Future Outlook for VALN
During the last three months, VALN stock has surged more than 30%. But the more recent statistics reveal a dismal picture for the stock. Looking ahead, it appears that the recent positive developments would renew the investor interest in buying the stock.
