Chikungunya Vaccine Maker Valneva Secures Non Dilutive Funding To Develop/Expand Its Clinical Pipeline
Portfolio Pulse from Vandana Singh
Valneva SE (NASDAQ:VALN) sold an FDA Priority Review Voucher for $103 million, awarded for the approval of Ixchiq, the first licensed chikungunya vaccine. The proceeds will fund R&D, including Phase 3 Lyme disease vaccine trials and further chikungunya vaccine trials. Valneva reported positive 24-month antibody persistence data for Ixchiq. The global market for chikungunya vaccines is expected to exceed $500 million annually by 2032. VALN shares are down 1.11% in premarket trading.
February 05, 2024 | 1:55 pm
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NEGATIVE IMPACT
Valneva SE sold an FDA Priority Review Voucher for $103 million, planning to invest in R&D for Lyme disease and chikungunya vaccines. Shares are down 1.11% premarket.
The sale of the FDA Priority Review Voucher provides significant non-dilutive funding for Valneva's R&D, indicating a strong commitment to advancing its vaccine portfolio. However, the immediate market reaction to this news is negative, as evidenced by a 1.11% drop in premarket trading. This could be due to investor concerns about the short-term financial impact or the sale's implications for future revenue potential.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100