Valneva Shares Suffer as Coronavirus Vaccine Seen Arriving Too Late
January 19 2022 - 5:33AM
Dow Jones News
By Julien Maron and Joshua Kirby
Shares in French biotechnology company Valneva SE sank Wednesday
as concerns mounted over the commercial prospects of its
coronavirus vaccine candidate, VLA2001.
At 0944 GMT, shares were down 12% at EUR13.82.
Vaccine scarcity could turn into a vaccine surplus as the
pandemic becomes endemic, a situation in which only vulnerable
people may be eligible for vaccination, Stifel analyst Max Herrmann
said. In this context, Valneva could struggle to obtain new
contracts, he said.
The Omicron variant has meanwhile shown that vaccines don't
prevent record numbers of daily new transmissions, Mohamed Kaabouni
of Portzamparc said. The first pharmaceutical players to introduce
vaccines--Pfizer Inc., Moderna Inc., Johnson & Johnson and,
most recently, Novavax Inc.--have saturated the market in developed
countries, Mr. Kaabouni added.
"It seems investors fear that those vaccines that have yet to
get the nod from regulators, like Valneva's, risk arriving once the
horse has already bolted," he said.
Valneva earlier this month confirmed that it expected to receive
potential approval for VAL2001 from regulators in the European
Union, the U.K. and Bahrain in the first quarter of the year.
This story was translated in whole or in part from a
French-language version initially published by L'Agefi-Dow
Jones.
Write to Julien Maron at jmarion@agefi.fr and to Joshua Kirby at
joshua.kirby@wsj.com; @joshualeokirby
(END) Dow Jones Newswires
January 19, 2022 05:18 ET (10:18 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Johnson and Johnson (NYSE:JNJ)
Historical Stock Chart
From Jun 2024 to Jul 2024
Johnson and Johnson (NYSE:JNJ)
Historical Stock Chart
From Jul 2023 to Jul 2024