(CercleFinance.com) – Valneva rose sharply on the Paris Stock Exchange on Monday morning after obtaining a new update on activities related to its vaccine against Covid-19.
In a press release, the company indicates that it is currently in discussions with a potential partner for funding that could allow it to invest in the development of a second generation vaccine.
The company had previously conditioned the progress of this project on obtaining the necessary financing or a financing commitment during the third quarter of 2022.
As the end of the quarter is fast approaching, Valneva – which does not reveal the identity of its interlocutor – says that it is conducting “active” discussions likely to continue over the coming months.
The vaccine specialist acknowledges, however, that these talks may not lead to an agreement.
‘Although no element has been specified, we think it possible that it may be companies that offer financing solutions via debt or equity lines’, commented this morning the analysts of Invest Securities.
In parallel, Valneva says it is continuing its discussions with various governments and regulatory authorities around the world, with the aim of deploying the remaining stocks of its first inactivated vaccine within the next twelve months.
The company also plans to release additional clinical data by the end of the year, including heterologous recall data, which could potentially support the depletion of its inventory.
In the wake of this information, Valneva shares climbed 6.2% on Monday in early trading. The stock is still down 76% since the start of the year.