Valneva Shares Gain After Positive Vaccine Trial Results

By Cecilia Butini

Shares in French pharmaceutical company Valneva SE rose in early trading on Monday after the company reported positive data on its vaccine against mosquito-borne viral disease Chikungunya.

At 0827 GMT, shares were up 8.5% at EUR7.32.

The vaccine data focused on persistence of antibodies against Chikungunya after 12 months of receiving a shot, Valneva said. The company also said it didn't identify any safety concerns around the vaccine, confirming the safety profile established in previous trials.

These positive results bode well for an upcoming Biologics License Application with the U.S. Food and Drug Administration, which is expected to be completed by year-end, Bryan Garnier analysts said in a note.

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(END) Dow Jones Newswires

12-05-22 0404ET