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Valneva Stock Plunges as U.Okay. Drops Covid-19 Vaccine Deal

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Valneva Stock Plunges as U.Okay. Drops Covid-19 Vaccine Deal

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https://www.barrons.com/articles/valneva-covid-vaccine-canceled-51631539751


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Valneva‘s American depositary receipt dropped nearly 40% after the French firm acknowledged the U.Okay. executive had canceled a deal to get 100 million doses of its experimental Covid-19 vaccine.

Valneva’s (ticker: VALN) ADR was down 38.5% in premarket buying and selling. In a press release issued early Monday, the firm acknowledged that the U.Okay. executive had terminated the deal after claiming that Valneva had no longer lived as much as its obligations.The vaccine developer acknowledged it “strenuously” denied the payment.

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Valneva Stock Plunges as U.Okay. Drops Covid-19 Vaccine Deal – Barron’s