Valneva Shares Keep Rising After Pfizer Deal
2022年6月21日 - 6:46PM
Dow Jones News
By Giulia Petroni
Valneva SE's shares continue to trade higher on Tuesday
following news that U.S. peer Pfizer Inc. has agreed to acquire a
stake in the French vaccines company.
The deal is set to support an already existing partnership
between the two companies to develop VLA15, the only vaccine
candidate currently under clinical development against Lyme
disease, a bacterial infection that can be spread to humans by
ticks.
At 0907 GMT shares trade 16.2% higher, and are up 52% on the
week.
Under the agreement, Pfizer will invest 90.5 million euros ($95
million) to acquire 8.1% of Valneva's shares, becoming a key
shareholder in the company. The funds will be used by Valneva to
finance its now 40% share of the development costs of the Phase-3
development of VLA15.
"If this move showed the increased confidence of Pfizer in the
potential of this project, it could also be seen as a first step
before a potential take-over of Valneva," Bryan Garnier analyst
Jean-Jacques Le Fur said.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
June 21, 2022 05:31 ET (09:31 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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