Valneva Shares Drop After UK Revokes Authorization for Chikungunya Vaccine
Valneva SE (VALN) saw its shares fall by approximately 5% in after-hours trading following the revocation of marketing authorization for Ixchiq, its chikungunya virus vaccine. The decision was made by the UK's Medicines and Healthcare products Regulatory Agency due to safety concerns. Ixchiq had previously been approved as a preventive measure against the chikungunya virus, which is transmitted through mosquitoes and can cause severe joint pain among other symptoms. This regulatory setback could impact Valneva’s revenue projections from this product in key markets like the UK. The move highlights ongoing scrutiny of vaccine safety by global health authorities and may affect investor confidence in Valneva's pipeline.
Tickers: $VALN
Topics: pharmaceuticals regulation vaccines