Valneva expands trials on COVID-19 vaccine candidate

PARIS, Sept. 23 (Reuters) – French vaccine maker Valneva (VLS.PA) is expanding testing of a COVID-19 vaccine candidate called VLA2001, and remains in talks with the European Commission over a potential contract, announced Thursday the company.

Valneva shares plunged 42% after Britain announced on September 13 that it had canceled its contract for around 100 million doses of the vaccine the company is developing, in part over concerns about when it would get approval for use. Read more .

But stocks have since regained nearly 14%, rising to 71% since the start of the year.

“Valneva is continuing its discussions with the European Commission regarding a possible VLA2001 supply contract,” the company said in a statement.

“The company is also actively seeking opportunities to make VLA2001 available to other customers, subject to positive data from Cov-Compare and regulatory approval.

Valneva’s vaccine candidate, which relies on an inactivated virus similar to influenza vaccines, is believed by some to have the potential to convince those wary of vaccines that use the new mRNA technology.

“The main results of the pivotal Cov-Compare trial are expected early in the fourth quarter of 2021 and are intended to form the basis for possible regulatory approval in adults,” said Valneva.

In the statement, Managing Director Thomas Lingelbach added, “We are confident that many countries and regulators will want the opportunity to consider our inactivated COVID-19 vaccine. “

Reporting by Sudip Kar-Gupta and Benoit Van Overstraeten; Editing by Jacqueline Wong and Clarence Fernandez

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