The course of biotech has been heavily attacked since the beginning of the year. (photo: Valneva) Decidedly, the beginning of the year is complicated for French biotech. The Valneva title lost nearly 15% this morning, bringing its decline to 45% since the start of the year. After hitting a high close to 30 euros, biotech is now sailing not far from 13 euros. Reason for the drop this morning? Several press sources are relaying information that the European Union’s medicines regulator has said it will still await additional data on Valneva’s Covid-19 vaccine. Information that needs to be clarified to understand exactly what consequences it entails for Valneva. The reaction of the markets this morning may therefore seem a bit disproportionate given the elements available. Biotech has already been weakened since the beginning of the year by several statements believing that the Omicron wave could fulfill the role of natural vaccination and that it could be the “last wave” of Covid. The price was also weighed down by the fact that three members of the laboratory’s management board sold 589,000 shares on the market in early January for an amount of 10.7 million euros, which fueled investor mistrust. The scenario of an end to covid in 2022 is in any case not certain for the moment, while the director general of the WHO, Tedros Adhanom Ghebreyesu, explained yesterday in a press conference that the pandemic “was far from ‘be finished’. On this specific point, it is therefore probably a little early to conclude that the offer of a “classic” vaccine with inactivated virus as proposed by Valneva is no longer useful. This also overlooks the company’s other promising programs in Lyme and chikungunya.
LG ([email protected])
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