The firm’s COVID-19 vaccine candidate VLA 2001 depends on inactivated virus, much like flu vaccines, and is seen by some as having the potential to win over people who find themselves cautious of some present vaccines utilizing new mRNA know-how.
The British authorities “has alleged that the company is in breach of its obligations under the supply agreement, but the company strenuously denies this,” Valneva stated in an announcement, with out giving additional particulars.
“Valneva has worked tirelessly, and to its best efforts, on the collaboration … including investing significant resources and effort,” it added.
The British authorities had no instant remark.
Despite Monday’s steep fall, Valneva’s shares are nonetheless up by round 50% because the begin of 2021.
The firm stated it was nonetheless persevering with its improvement plan for VLA 2001.
“Valneva believes that initial approval for VLA2001 could be granted in late 2021”, the corporate added.