PARIS (Reuters) – Valneva shares on Monday dropped by around 20% after the French drugmaker warned over prospects for its COVID-19 vaccine.
Valneva said last week it had 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.
Valneva had first warned on May 16 that its COVID-19 vaccine agreement with the European Commission was likely to be scrapped as Brussels had informed the company of its intent to terminate the advance purchase agreement.
(Reporting by Tassilo Hummel; Editing by Sudip Kar-Gupta; Editing by Sudip Kar-Gupta)
