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    VLA   FR0004056851

VALNEVA SE

(VLA)
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Real-time Euronext Paris  -  11:35 2022-06-27 am EDT
12.76 EUR   +0.87%
10:43aValneva Receives Marketing Authorization in Europe for Inactivated Whole-Virus COVID-19 Vaccine VLA2001
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EU says no final decision taken on ending Valneva COVID vaccine contract

05/16/2022 | 06:43am EDT

BRUSSELS, May 16 (Reuters) - The European Commission said on Monday that no final decision had been made about the possible termination of a contract with Valneva to supply its COVID-19 vaccine to the European Union.

Valneva said earlier on Monday it had received a notice of intent from the Commission to terminate the contract. The statement triggered a sell-off of the company's shares, which lost one-fifth of their value in few hours.

EU Commission spokesman Stefan de Keersmaecker confirmed the EU executive had communicated to Valneva its intention to terminate the contract but said the final decision would only be made after consulting with Valneva on the matter.

He told a regular news briefing that the notice had been sent after an agreement with EU governments, but said the notice was only the start of a process.

Valneva can now propose alternative solutions and only after that would the EU decide whether to terminate the contract, the spokesman said, adding that the EU "will consider any remedial solution the company may propose".

Under the deal, Valneva had agreed to supply up to 60 million doses of vaccine over two years. (Reporting by Francesco Guarascio @fraguarascio; Editing by Jason Neely and Edmund Blair)


© Reuters 2022
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Financials
Sales 2022 244 M 259 M 259 M
Net income 2022 -65,2 M -69,2 M -69,2 M
Net cash 2022 250 M 265 M 265 M
P/E ratio 2022 -20,9x
Yield 2022 -
Capitalization 1 375 M 1 459 M 1 459 M
EV / Sales 2022 4,61x
EV / Sales 2023 2,24x
Nbr of Employees 762
Free-Float 81,5%
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Mean consensus OUTPERFORM
Number of Analysts 6
Last Close Price 12,76 €
Average target price 17,80 €
Spread / Average Target 39,5%
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Managers and Directors
Thomas Lingelbach President & Chief Executive Officer
Franck Charles Marie Grimaud Director General & Chief Business Officer
Peter Buhler Chief Financial Officer
Frédéric Grimaud Chairman-Supervisory Board
Michael Möhlen Vice President-Technical Development
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